Oil firms hiked pump prices by as much as P0.60 per liter starting 6am Tuesday to reflect the movement in world oil prices.
The oil firms raised the price of diesel by P0.60 per liter, kerosene by P0.45 per liter and gasoline by P0.10 per liter.
So far, Seaoil Philippines, Petro Gazz, PTT Philippines and Phoenix Petroleum Philippines issued advisories of the latest oil price increase but others are expected to follow suit.
“Phoenix Petroleum Philippines will increase the prices of gasoline by P0.10 per liter and diesel by P0.60 per liter effective 6am of 28 August 2018,” the company said.
Meanwhile, Pilipinas Shell Petroleum Corp. has offered a P0.25 per liter diesel discount to the public utility jeepneys in more than 50 percent of its retail stations to support the government and the Department of Energy’s concern regarding increasing inflation and in lieu of the reintroduction of Euro 2 diesel fuel.