Oil companies raised diesel and kerosene prices effective on Tuesday, citing global market volatility.
On Monday afternoon PTT Philippines and Eastern Petroleum announced they will hike the price of diesel by P0.55 per liter.
Seaoil will, likewise, implement the same price adjustment. It added that it will sell kerosene P0.30 per liter higher also on Tuesday.
“This is to reflect movements in the international petroleum market,” Seaoil said.
The price increase takes effect at 6 a.m. on January 9. Other oil firms are expected to announce a similar price adjustment.
There is no adjustment in the price of gasoline.
This is the second price hike in diesel and kerosene for the year.
On January 1 gasoline price went up by P0.20 per liter, diesel by P0.65 per litre and kerosene by P0.75 per liter.
Adjustments on petroleum products are implemented every Tuesday of the week.
Image credits: Nonie Reyes