PRICE INCREASE. Oil prices are set to increase on Tuesday (Jan. 15, 2023). This will be the second straight week that oil firms have hiked prices. (File photo)
MANILA – For the second consecutive week, oil prices will increase on Tuesday morning.
In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, Shell, and Unioil announced an increase in diesel by PHP0.90 per liter and PHP0.30 per liter for gasoline.
Caltex, Seaoil, and Shell will, likewise, hike kerosene prices by PHP0.90 per liter.
Other industry players are expected to follow suit.
Even with the price adjustments last week, gasoline prices were still lower by PHP0.15 per liter and diesel prices lower by PHP1.20 per liter compared to their last prices in 2023.
On the other hand, kerosene prices had a net increase of PHP0.10 per liter.
The tensions in the Middle East have sent global oil prices sharply last Friday.
As of writing, West Texas Intermediate and Brent crude prices were trading at USD72.73 and USD78.43, higher by 0.07 and 0.18 percent. (PNA)
