Less than P1 oil price hike set Oct. 1

Manila: Oil firms will increase pump prices at the start of October. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell announced that they will hike gasoline and diesel prices by PHP0.45 and PHP0.90 per liter. Caltex, Seaoil, and Shell will also increase kerosene prices by PHP0.30 per liter. Last week, oil companies implemented a PHP1.20 per liter increase for gasoline and PHP0.20 per liter hike for diesel, while there was no adjustment on kerosene prices. With the recent price movement, year-to-date prices of gasoline and diesel had a net increase of PHP5.85 and PHP1.95 per liter, respectively. Kerosene prices, on the other hand, had a net decrement of PHP6.35 per liter. According to the Department of Energy, prevailing prices of gasoline in Metro Manila range from PHP49.15 to PHP72.55 per liter, PHP45.44 to PHP69.30 per liter for diesel, and PHP66.29 and PHP77.65 per liter for kerosene. Source: Philippines News Agency