Fuel retailers raise pump prices by more than P1


Posted at Jun 24 2014 10:20 AM | Updated as of Jun 24 2014 06:20 PM

MANILA, Philippines - Tensions in the Middle East caused fuel prices to rise.

Shell, Petron, Phoenix, Seaoil and PTT on Tuesday hiked gasoline prices by P1.30 per liter, and diesel by P1.20 per liter -- the highest spike so far for this year.

Kerosene prices also went up by P1.45 per liter.

The Department of Energy explained the prices of imported petroleum products have been going up largely due to the crisis in Iraq.

Based on the DOE computation, the total price increases since January have already evened out the total rollback for gasoline, while diesel prices still have a net reduction of more than P2 per liter. - ANC