PUMP prices will go up by as much as P0.50 per liter starting today, Tuesday, for the fourth consecutive price increases for the month of January.
The oil companies raised gasoline prices by P0.35 per liter and diesel and kerosene by P0.50 per liter to reflect the movement of world oil prices.
“Flying V will implement price movement on the following: gasoline, increase by P0.35 per liter, bio-diesel, increase by P0.50 per liter and kerosene, increase by P0.50 per liter,” the company said in a statement.
The other oil firms that raised prices as of press time included Eastern Petroleum, Seaoil Philippines and PTT Philippines.
The oil firms also raised pump prices by P0.80 per liter of gasoline and P0.55 per liter of diesel and kerosene on Jan. 16.
They also raised diesel prices by P0.55 per liter and kerosene by P0.30 per liter on Jan. 9 but left gasoline prices unchanged.
And on Jan. 2, the oil firms raised kerosene prices by P0.75 per liter, diesel by P0.65 per liter and gasoline by P0.20 per liter.
Consumers also experienced higher pump prices this month due to Republic Act 10963 or the Tax Reform for Acceleration and Inclusion Act, which exacted higher excise taxes on petroleum products.
Under the TRAIN, gasoline prices will go up by P2.97 per liter, kerosene by P3.36 per liter and diesel by P2.80 per liter. Cooking gas will also go up by P1.12 per kilogram.