MANILA -- Oil companies will hike pump prices by more than P1 per liter effective Tuesday morning, August 23.
Eastern Petroleum Corp., Flying V, Seaoil Philippines Inc. and Chevron Philippines Inc. (CPI) or Caltex announced that prices for both diesel and kerosene will increase by P1.45 per liter, while gasoline prices will go up by P1.35 per liter.
Phoenix Petroleum Philippines will also increase pump prices of its gasoline and diesel by P1.45 and P1.35 per liter, respectively.
According to the oil companies, the increase in oil prices reflects the movement of prices in the international petroleum market.
As of August 16, data from the energy department showed that common price of diesel was at P25.85 per liter while P39.05 for gasoline. (PNA)