Pump prices went up by as much as P0.50 per liter effective Tuesday to reflect the movement of world oil prices.
The oil firms raised the price of gasoline by P0.50 per liter, kerosene by P0.20 and diesel by P0.15, the fifth weekly consecutive oil price increase.
“Please be advised that Eastern Petroleum will hike the price of diesel by P0.15 per liter and unleaded and premium gasoline by P0.50 per liter at 6 am Tuesday,” the company said in an advisory.
Eastern Petroleum aside, Flying V, Seaoil Philippines, and PTT Philippines also announced an increase in prices.
World oil prices are being influenced by the US sanctions against Iran, which are likely to affect supplies.
The Energy department said there is enough supply of petroleum in the typhoon-affected areas, with stocks ranging from two to 15 days.
In Cagayan, the department said, the declaration of a state of calamity resulted in a price freeze on liquefied petroleum gas and kerosene for 15 days.
The department earlier praised the oil firms for helping to ease prices by giving more fuel discounts to consumers.
It said 10 oil companies with a total of 1,317 stations were now offering discounts from P1 to P3 per liter to public utility vehicles. These are Caltex, Filpride, Jetti, Petron, Phoenix, PTT, Seaoil, Shell, Total and Unioil.
