MANILA -- The world crude market's volatility will be felt by Filipino consumers once more as local oil companies implement another hike in pump prices on Tuesday.
In separate advisories, Pilipinas Shell, Petron Corporation and PTT Philippines announced moderate price increases in their liquid fuels effective 6 a.m. on June 25.
Gasoline will increase by PHP0.30 per liter, diesel will move up by PHP0.55 per liter while kerosene will rise by PHP0.45 per liter, the oil firms said.
This increase follows a more modest increase in petroleum products implemented last week.
Oil executives said the upward direction in the international oil market in past days were fueled by lingering uncertainties surrounding the stability of the Middle East as well as the protracted trade dispute among economic giants.
They said making a forecast on when the volatility in oil prices will end is proving to be a challenge since "a retaliation by the United States on the downing of its drone by Iran can change the whole ball game very quickly." (PNA)
