Local oil firms raised their fuel prices anew by more than a peso per liter Tuesday.
This is the third time in just a month that fuel prices increased.
At 6 a.m., major oil players Pilipinas Shell, Petron Corp. and Chevron Philippines(formerly Caltex) hiked their respective prices of regular gasoline by P1.15 per liter, premium gasoline (including unleaded) by P.95 per liter, while diesel P0.65 per liter and kerosene by P0.70 per liter.
The increase, according to the oil companies, reflect the continued increase in the prices of refined petroleum products in the world market.
Meanwhile, other oil firms have yet to announce any movements in their prices.
Last week, local oil firms raised the prices of their petroleum products including that of premium gasoline, diesel and kerosene by P1.20 per liter while regular gasoline by P1.10 per liter. Then, last Feb 5, they also implemented another price hike of their petroleum products including of premium gasoline by P1.05 per liter, regular gasoline by P0.75 per liter and both diesel and kerosene by P0.45 per liter.