MANILA: Oil companies are set to adjust petroleum prices on Tuesday, April 23.
In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, and Shell said they would increase gasoline prices by PHP0.55 per liter and slash prices of diesel by PHP0.95 per liter.
For six consecutive weeks, gasoline prices have increased.
On the other hand, Caltex, Seaoil, and Shell will also cut kerosene prices by PHP1.10 per liter.
Other oil firms are expected to follow suit.
According to OilPrice.com, oil price volatility continues to soar amid the geopolitical tensions between Israel and Iran.
Data from the Department of Energy showed that with the price hikes last week, year-to-date adjustments of gasoline, diesel, and kerosene stood at a per liter net increase of PHP9.70, PHP7, and PHP2.25, respectively.
Source: Philippines News Agency