Oil prices up for 3rd straight week

MANILA – Oil companies will hike pump prices anew on Tuesday, marking the third consecutive week of an increase.    

In separate advisories, Caltex, Petro Gazz, Phoenix Petroleum, Seaoil and Shell said they will raise gasoline prices by PHP0.40 per liter and diesel prices by PHP0.35 per liter.

Cleanfuel will roll out price increments of PHP0.30 per liter for both gasoline and diesel products.

Caltex, Seaoil, and Shell will also increase kerosene prices by PHP0.15 per liter.

In the Department of Energy’s (DOE) latest oil monitor bulletin, week-on-week prices of Dubai crude as of Sept. 3 trading rose by USD1.80 per barrel.

Mean of Platts Singapore (MOPS) gasoline and diesel prices also went up by USD1.50 per barrel and USD2.90 per barrel in the same period.

Meanwhile, year-to-date prices of gasoline stood a net increase of PHP13.35 per liter, PHP10.90 per liter for diesel, and PHP8.70 per liter for kerosene, the DOE said. (PNA)

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