MANILA – Prices of fuel sustain their rise, with another hike by as much as PHP1.90 per liter set for Aug. 5.
In an advisory Monday, Seaoil said effective 6 a.m. on Tuesday, the price of its gasoline will increase by PHP1.90 per liter, diesel by PHP1.20 per liter, and kerosene by PHP1 per liter.
This adjustment is a result of the fluctuations in the international oil prices due to weaker demand forecast in the US after the recent weaker jobs report and possible higher production by the Organization of the Petroleum Exporting Countries and its allies.
Oil prices have been on the rise since last month.
However, the upward price adjustments were deferred in several calamity-hit areas in the country last week based on the agreement between the Department of Energy and oil firms. (PNA)
