Oil prices rise for 5th week

In Photo: A gasoline attendant tends to customers at a petrol station in Makati City.

PRICES of petroleum products are on the rise again for the fifth consecutive week.

Oil firms announced on Monday a price hike in gasoline, diesel and kerosene.

PTT Philippines, Total Philippines, Phoenix Petroleum said they will increase the price of gasoline by P0.65 per liter and diesel also by P0.65 per liter.

Seaoil Philippines and Pilipinas Shell will also implement the same price adjustment. It added that kerosene price will be sold at P0.65 per liter higher.

The price hike will take effect 6 a.m. of  Tuesday, September 11. Since the start of the year, the price of gasoline has gone up by more than P12 per liter, diesel anywhere between P14 and P16 per liter, and kerosene by P12 to as much as P18 per liter.

The Department of Energy (DOE) had called on oil firms to provide price discounts as one of the measures to unburden consumers amid rising prices.

Oil firms said they have extended an additional discount of at least P0.25 per liter of diesel.

“As commodity prices continue to rise, finding immediate remedial measures to help our consumers is of utmost importance,” Energy Secretary Alfonso G. Cusi said.

 

Image Credits: Alysa Salen

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She studied at Letran College. Named the Best Telecommunications and Energy reporter by Ejap in the past years; also received an award for best feature story.