MANILA, Philippines—Oil companies are set to implement another round of price increase this week due to geopolitical tensions, mostly between the US and Iran, and increasing demand by certain countries.
Shell, Seaoil, Cleanfuel and Petrogazz said gasoline prices will go up by P1.20 per liter, and diesel by P0.60 per liter.
Meanwhile, the cost of kerosene will increase by P0.60 per liter.
The price adjustments will be implemented on Tuesday, February 17.
This will be the fifth consecutive week that oil firms hiked their pump prices.
Last week, gasoline and kerosene prices went up by P0.60 per liter, and diesel by P1.00 per liter.
