Oil firms on Monday said they will implement another round of price hikes on their pump prices starting Tuesday morning.
In separate advisories, Petron, Flying V, Seaoil Philippines Inc., PetroGazz, and Cleanfuel will increase prices per liter of gasoline by P0.75 and diesel by P1.10.
Seaoil, Petron, and Flying V will also increase kerosene prices by P0.90 per liter.
The adjustments will take effect at 6 a.m. on Tuesday for all the firms except Cleanfuel, which will implement the changes at 4:01 p.m. the same day.
“These reflect movements in the international oil market,” Petron said.
Last week, the country’s oil firms hiked pump prices by as much as P1.85 for gasoline and P2.40 for diesel per liter.
Latest data available from the Department of Energy show that last year’s adjustments stood at a total net increase of P17.85 per liter for gasoline, P14.95 per liter for diesel, and P12.39 per liter for kerosene as of December 21.
The Department of Energy ordered a price freeze on kerosene in areas under a state of calamity in Visayas and Mindanao due to Typhoon Odette.
Also, some oil companies did not implement price hikes in gasoline and diesel in provinces hit by the super typhoon.
