Metro Manila, Philippines – Local oil players are implementing another round of price hikes for a second straight week.
In separate announcements on Monday, Feb. 24, Cleanfuel and Seaoil said they will raise per-liter prices of gasoline by P0.70 and diesel by P0.40.
Seaoil said kerosene will go up by P0.20 per liter.
The Department of Energy attributed this week’s movement to the possible disruption in the oil international market.
Also driving prices up are the G7’s proposal to tighten oil price cap in Russia in a bid to push a peace agreement with Ukraine as well as reports from the Organization of the Petroleum Exporting Countries (OPEC) Plus considering a delay in output adjustments in April.
Pending implementation, the year-to-date tally so far: An increase of P4.75 per liter for gasoline and diesel, while P2.90 for kerosene.
