Oil firms to hike pump prices October 29

MANILA - Oil firms will increase pump prices starting Tuesday. In separate advisories on Monday, Seaoil, Caltex, and Shell will raise diesel and kerosene prices by PHP0.50 per liter. They will also increase gasoline prices by PHP0.20 per liter. Petro Gazz and Cleanfuel will also raise diesel prices by PHP0.50 per liter and gasoline by PHP0.20 per liter. Last week, oil firms slashed gasoline prices by 50 centavos per liter, diesel by 70 centavos per liter, and kerosene by 85 centavos per liter. Latest data from the Department of Energy showed that as of Oct. 15 this year, oil companies implemented an increase of PHP2.60 to PHP2.65 per liter for gasoline, PHP2.70 per liter for diesel, and PHP2.60 per liter for kerosene. Year-to-date, total adjustment of gasoline and diesel stands at a net increase of PHP9.05 per liter and PHP6.75 per liter, respectively. On the other hand, kerosene has a total net decrease of PHP2.75 per liter. Source: Philippines News Agency