Pump prices up anew

MANILA, Philippines — Oil companies are implementing another round of price hikes for gasoline, diesel and kerosene today.

In separate advisories yesterday, oil firms said the price of gasoline will increase by P1.35 per liter, diesel by P0.45 per liter and kerosene by P0.35 per liter.

These adjustments, which reflect the movement in the international oil market, mark the third consecutive week of price hikes for diesel and kerosene, and the second consecutive week for gasoline.

The higher global prices were attributed primarily to oil cuts previously announced by Saudi Arabia and Russia.

The adjustments in domestic prices will take effect at 6 a.m. today for most companies, except for Caltex which implemented the price movements at 12:01 a.m. and Cleanfuel which will implement it at 4:01 p.m.