Firms impose huge price hike in fuel products on May 20

Metro Manila, Philippines - Companies implemented a huge increase in prices of fuel products on Tuesday, May 20, after two consecutive rounds of decreases.

In separate advisories, Caltex, Cleanfuel, Jetti Petroleum, Phoenix Petroleum, and Seaoil said gasoline and diesel will have upward adjustments of P1.20 per liter and P1.70 per liter, respectively.

Caltex and Seaoil said there will be a hike in kerosene by P1.20 per liter.

Year-to-date, gasoline has a total net increase of P4 per liter, diesel has a total net increase of P3.80 per liter, and kerosene has a total net decrease of P2.05 per liter.