The oil firms raised the price of gasoline by P1.35 per liter, diesel by P0.45 per liter, and kerosene by P0.35 per liter.
This is the third consecutive week that the prices of diesel and kerosene have gone up and the second consecutive week for gasoline. “This is attributed to the production cuts implemented by Saudi Arabia and Russia and that oil prices edged higher in early trade after sinking in the previous session on weaker-than-expected Chinese economic growth, as investors eyed a possible tightening of US crude supplies,” DOE director for the Oil Industry Management Bureau Rodela Romero said.
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