Manila: Oil firms on Monday announced staggered price hikes on fuel products this week. In separate advisories, Seaoil, Shell, and Caltex stated they will implement the first round of price increases on June 24, while the second round will take effect on June 26.
According to Philippines News Agency, these companies will hike gasoline prices by PHP1.75 per liter, diesel prices by PHP2.60 per liter, and kerosene prices by PHP2.40 per liter for both June 24 and June 26. CleanFuel also announced it would implement a PHP2.60 per liter increase for diesel and PHP1.75 per liter for gasoline on June 24.
The Department of Energy mentioned earlier that oil firms agreed to implement the fuel price hikes on a staggered basis to cushion the impact of higher prices on Filipino consumers.
