LOCAL oil companies implemented another round of increases for fuel this week, with diesel having the biggest price adjustment following recent oil-related developments in the US.
Shell, Seaoil, PetroGazz, Caltex Cleanfuel, Jetti Petroleum, Unioil, PTT Philippines and Flying V all jacked up gasoline prices by 50 centavos per liter and hiked diesel prices by P1.45 per liter.Kerosene prices followed the same price movement as Shell, Seaoil, Caltex and Flying V, which all hiked them by 75 centavos per liter.This is the second consecutive week where all fuel prices increased.
According to the Department of Energy's Oil Industry Management Bureau , the reasons for this week's fuel price movements are the US oil-related developments, such as a stronger US dollar, and the fall of US crude stocks.On Dec. 17, local oil companies implemented an increase in all prices of petroleum products, with both gasoline and diesel increased by 80 centavos per liter, while kerosene went up by 10 centavos per liter.
Fuel Price Hike Takes Effect On Christmas Eve
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