Pump prices will go up by over P2 per liter this week.
On Monday, oil firms announced they would implement an increase gasoline prices by P2.80 per liter, diesel by P2.25 per liter, and kerosene by P2.40 per liter.
Seaoil, Shell, PTT, Phoenix, Caltex, Total, Petron said the adjusted pump prices takes effect at 6 a.m. of Tuesday, January 24. Cleanfuel, meanwhile, will adjust its prices at 4:01 p.m.
Last January 17, oil companies implemented the third adjustment for the year. They increased gasoline by P0.95/liter and diesel by P0.50/liter. On the opposite a P0.15/liter decrease has been effected on the price of kerosene.
These resulted to total adjustments this year to stand at net increase of P3.10/liter for gasoline, and P0.80/liter for kerosene; diesel at net decrease of P0.20/liter.
Oil firms adjust their prices every week to reflect movements in the world oil market.
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