MANILA – For two consecutive weeks, oil firms will increase their prices starting Tuesday morning.
In separate advisories, Flying V, Petro Gazz, Shell, Unioil, Petron and PTT Philippines said they will hike prices of gasoline by PHP0.20 per liter, and PHP0.05 per liter on prices of diesel.
Flying V, Shell and Petron will also implement increment on kerosene prices by PHP0.45 per liter.
Cleanfuel said it will maintain the prices of its products this week.
Data from OilPrice.com showed that Brent crude and West Texas Intermediate (WTI) prices were down compared to the previous trading.
As of this posting, Brent crude was trading at USD41.65 a barrel, while WTI at USD39.95 per barrel.
According to the same source, fuel demand in the United States remains under pressure due to travel restrictions amid the coronavirus disease 2019 (Covid-19) pandemic.
OilPrice.com added that global demand is getting even worse as cases of coronavirus continue to increase and authorities are introducing new restrictions that will likely constrain travel and fuel demand. (PNA)
