Local pump prices are on the rise again.
Oil firms on Monday announced a hefty price increase in gasoline, diesel and kerosene. They raise gasoline prices by P1.60 per liter, diesel by P1.35 per liter and kerosene by P1.20 per liter.
This is the first oil price increase for this month. The price adjustment also comes after five consecutive weeks of oil price rollbacks.
Seaoil, PTT Philippines, Caltex, Pilipinas Shell said as of this writing that they will implement the price increase at 6 a.m. of Tuesday, December 14. Cleanfuel, meanwhile, will implement its price increase at 4:01 p.m. Other oil firms are expected to also adjust prices of their petroleum products soon.
Oil companies adjust their prices weekly to reflect movements in the world oil market.
