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Monday, May 6, 2024

Pump prices rise by P1.20 a liter of diesel

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Oil companies raised pump prices by as much as P1.20 a liter effective Tuesday 6 am to reflect world market conditions.

The price of diesel rose a sharp P1.20 a liter, while gasoline and kerosene prices went up by 95 centavos liter.

This was the third consecutive week that oil prices have risen.

World oil prices have been rising amid reports that the supply of Iranian oil could be cut and that the supply from Venezuela is depleting.

The move followed the P1.95 per kilo increase in LPG equivalent to P21.45 per 11-kilo tank implemented over the weekend to reflect the movement of the contract price of LPG in the world market.

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The oil companies also increased the price of autoLPG by P1.10 per liter.

On Aug. 28, the oil firms also raised pump prices by P0.60 per liter for diesel, P0.45 for kerosene and P0.10 per liter for gasoline.

The oil firms also raised diesel and gasoline prices by P0.25 and P0.15 per liter, respectively on Aug. 14. 

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