Metro Manila, Philippines – Oil firms will hike fuel prices starting Tuesday, June 10.
In separate advisories on Monday, Cleanfuel, and Seaoil announced an upward adjustment in diesel by P0.95 per liter and gasoline by P0.60 per liter.
Seaoil said it will increase prices of kerosene by P0.30 per liter.
The Department of Energy previously said possible price hikes this week may be due to persistent geopolitical tensions such as the Russia-Ukraine conflict and the United States-Iran nuclear deal.
The DOE said there was also a supply concern after wildfires in Canada disrupted production, and the “larger-than-anticipated drawdown” in US crude oil inventories.
With this week’s movement, year-to-date adjustments for gasoline price will be a net increase of P5.10, diesel a net increase of P4.85, and kerosene a net decline of P2.25 per liter.
