3 oil companies to increase pump prices of gas at P1.45/ltr, diesel P1/ltr Tuesday

By Juzel L. Danganan

MANILA, Apr 20 (PNA) –- Three oil companies will increase pump prices of gas at Php 1.45 per liter and diesel at Php 1 per liter.

Phoenix Petroleum Philippines, Seaoil Philippines Inc. (SPI) and PTT Philippines will hike gasoline prices by Php 1.45 per liter and diesel by Php 1 per liter on Tuesday.

SPI and PTT Philippines will implement the price increase on 12:01 a.m., while Phoenix will move prices at 6 a.m., April 21.

Seaoil will also increase kerosene prices by Php 1.05 per liter.

Phoenix and Seaoil said the hike was due to international price movements.

West Texas Intermediate (WTI) went on its highest price for 2015 at USD 56.71 per barrel last week – on April 16.

Local pump prices in Metro Manila for diesel are currently playing between Php 23.40 to Php 29.95, according to the Department of Energy (DOE). It has a common price of Php 28.95 per.

Gasoline is currently sold between Php 37.50 to Php 43.20, but has a common price of Php 41.10.

For the year-to-date increase, gasoline had an increase of 92 centavos per liter, while diesel had a total decrease of Php 1.19 per liter.

Motorists are encouraged to put their vehicles on full-tanks Monday evening, to avoid the price hike. (PNA)