Oil price hike set Tuesday

Pump prices of petroleum products will be hiked anew on Tuesday, marking the second consecutive week of price increases.

In separate advisories, Chevron Philippines Inc. (Caltex), Pilipinas Shell Petroleum Corp., and SEAOIL Philippines Inc. said they will hike prices per liter of diesel by P0.60, gasoline by P0.10, and kerosene by P0.45.

Phoenix Petroleum Philippines Inc., PTT Philippines Corp., and TOTAL Philippines Inc. will implement the same changes, excluding kerosene.

The changes will take effect 6 a.m. Tuesday, August 28.

Other firms have yet to announce any price adjustment for the week.

Last week, companies hiked diesel prices by P0.25 per liter, and gasoline by P0.15 per liter.

According to the latest available data from the Department of Energy (DOE), prices per liter of gasoline currently range from P45.20 to P62.96, diesel from P41.10 to P51.23, and kerosene from P46.27 to P56.41. — RSJ, GMA News