Oil price hike to take effect today

Metro Manila, October 24 ------ Fuel companies will implement price increases in petroleum products starting today. In separate advisories, Seaoil and Cleanfuel said the per-liter cost of diesel will increase by ₱1.30 while gasoline prices will go up by 95 centavos per liter. Petro Gazz, Jetti, Unioil and PTT said they will also implement the same oil price adjustments.

Kerosene will cost ₱1.25 more per liter, Seaoil said. The price increases of Seaoil, PTT, Jetti and Petro Gazz will take effect at 6 a.m. while Cleanfuel's adjustments will be implemented at 4:01 p.m.

Other oil companies are expected to make their announcements at the start of the week. The Department of Energy's Oct. 17 data showed that price adjustments resulted in a year-to-date per-liter increase of ₱12.80 for gasoline, ₱10.40 for diesel, and ₱4.99 for kerosene.

Source: cnnphilippines.com