Fuel prices increase anew, inch closer to P100/liter

MANILA: Pump prices are inching closer to the feared P100-per-liter mark, as gasoline rises by P2.15 per liter,  diesel by P4.30 per liter, and kerosene by P4.85 per liter today (June 14). 

Caltex has implemented the price changes at midnight Tuesday, while Petron and Shell have done the same from 6 a.m. onwards.

Around the same time as the above fuel companies, Cleanfuel, Flying V, Petro Gazz, Phoenix, PTT Philippines, Seaoil, and Unioil have also followed the price increase on pump products. 

According to Department of Energy-Oil Industry Management Bureau Director Rino Abad, the price hike is caused by the easing of lockdowns in China following a spike in COVID-19 cases there, the European Union ban on Russian oil imports, and the summertime of northern hemisphere countries from June to September, a report stated. 

Last week, gasoline rose by P2.70 per liter, diesel by P6.55 per liter, and kerosene by P5.45 per liter. 

Photo from Chevron Philippines, Inc.