OIL companies on Monday announced a price increase in fuel pump prices that will take effect on Tuesday morning.
In separate advisories, petroleum firms said they will increase gasoline prices by P0.90 per liter, diesel by P0.80 per liter and kerosene by P0.75 per liter.
Pilipinas Shell, Seaoil Philippines, PTT Philippines, Eastern Petroleum, Total Philippines and Petro Gazz said the price adjustment takes effect 6 a.m. of May 21.
Prior to this week’s oil price hike, oil firms reduced pump prices for two weeks.
The Department of Energy said recent world events have once again caused the increase of oil prices in the local market.
Image credits: Alysa Salen