Hike in kerosene, diesel prices set Oct. 8

Manila: Oil firms will increase prices of diesel and kerosene while there will be no adjustment for gasoline prices this week. This will be the second straight week that local oil players increased pump prices. On Monday, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil and Shell said in separate advisories that they will hike diesel prices by PHP1.20 per liter. Caltex, Seaoil, and Shell will also increase prices of kerosene products by PHP0.70 per liter. Other oil companies are expected to follow suit. The Department of Energy (DOE) last week said global oil prices continue the upward trend due to fears of escalating tension in the Middle East. 'Year-to-date, total adjustment of gasoline and diesel stands at a net increase of PHP6.40 per liter and PHP2.85 per liter, respectively, while kerosene has a total net decrease of PHP6.05 per liter,' DOE said. As of Oct. 7, gasoline prices in the National Capital Region range from PHP49.15 to PHP84.87 per liter, PHP45.40 to PHP70.20 per liter for diesel, and PHP66 .59 to PHP77.65 per liter for kerosene. Source: Philippines News Agency