The country’s oil firms raised oil prices anew by as much as P1 per liter, the second consecutive weekly oil price hike effective 6 a.m. today.
The oil firms increased the price of diesel and kerosene by P1 per liter, respectively, and gasoline by P0.90 per liter.
“This is to reflect movements in the international petroleum market,” Seaoil Philippines said.
Higher world oil prices have continued on the back of increased global demand and geopolitical concerns in the Middle East that could impact supply, among others.
On March 27, oil firms also raised the price of gasoline by P1.15 per liter, diesel by P1.10 per liter and kerosene by P1 per liter.
PTT Philippines, Phoenix Petroleum Philippines and Flying V issued advisories of the oil price hike while other oil firms are expected to follow.
Eastern Petroleum, for its part, said it will not adjust the price of its EC Gas LPG, its own brand of liquefied petroleum gas or cooking gas this month.
“This is the second time Eastern Petroleum has decided to reflect a higher reduction and/or to absorb the adjustment in the international contract price of LPG,” the company said.
Petron Corp. had earlier implemented a P0.25 per kilo increase in LPG prices effective 12:01 a.m. April 1.
“We will likewise increase AutoLPG by P0.15 per liter at the same time. These reflect movements in the international contract prices of LPG for the month of April,” Petron said.