MANILA, Philippines — Oil companies are raising pump prices by over P1 per liter today.
Gasoline prices would be raised by P1.15 per liter, diesel by P1.10 per liter, and kerosene by P1.10 per liter.
In separate advisories, Petro Gazz, Petron, Phoenix Petroleum, Pilipinas Shell, PTT Philippines and Seaoil Philippines said their price adjustments would take effect at 6 a.m. today.
Cleanfuel would adjust prices by 4:01 p.m.
In the past trading week, Brent crude and West Texas Intermediate (WTI) have risen about six percent, Reuters reported.
Both benchmarks rose after AstraZeneca earlier announced that its COVID-19 vaccine could be up to 90 percent effective.
Meanwhile, retailers of liquefied petroleum gas will also raise the price of cooking gas and auto LPG starting today.
In a text advisory, Petron said it would implement a P0.96-per-kilogram increase in LPG prices and P0.54 per liter for auto LPG effective 12:01 a.m. today.
“These reflect the international contract price of LPG for the month of December,” Petron noted.
Other retailers have yet to announce their respective price adjustments.