Oil prices to rise on July 16

Ralf Rivas
Oil prices to rise on July 16

Darren Langit

Gasoline prices will increase for the 5th straight week, while diesel and kerosene prices are following the trend after falling last week

MANILA, Philippines – Gasoline prices will rise for the 5th consecutive week, while diesel and kerosene prices are also going up after a slight decrease last week.

In separate advisories, Shell, Petro Gazz, Seaoil, and Caltex said they would implement a hike of P1.05 per liter for gasoline and P0.70 per liter for diesel on Tuesday, July 16.

Companies carrying kerosene will raise prices by P0.70 per liter.

The new rates will be implemented at 6 am on Tuesday. Other companies have yet to announce adjustments, but are expected to follow the same rates.

The new prices raised year-to-date adjustments to P6.20 for gasoline, P4 for diesel, and P2.45 for kerosene.

The hikes come as oil-producing countries extend production cuts. – Rappler.com

 

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Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.