• CHERYL G. CRUZ
The pump prices of petroleum products will increase for the second straight week.
Oil companies announced over the weekend that diesel will increase by P1.70 to P1.90 per liter, gasoline by P1.10 to P1.30/L, and kerosene by P1 to P1.30/L.
The exact adjustments will be known today, June 24.
The Department of Energy said the “week-on-week price of Dubai crude has increased by around $2.30 per barrel. The international price of gasoline, diesel and kerosene have also increased week-on-week by about $1.50, $3.80 and $4.40 per barrel, respectively.”
Effective June 18, oil companies also hiked the prices of gasoline, diesel, and kerosene by P0.85, P1.75 and P1.90 per liter, respectively.
The latest movement resulted in a net increase of P6.90/liter, P6/liter, and P0.35/liter, respectively, for gasoline, diesel, and kerosene since the start of this year, the DOE Oil Monitor showed. | CGC
