By Danessa Rivera (The
Philippine Star) | Updated October 18, 2016 - 12:00am
MANILA, Philippines - Another round
of oil price hikes will greet motorists today as oil companies continue to
track the global uptrend in crude prices.
Gasoline prices were raised for the
sixth straight week and diesel and kerosene for the fourth consecutive week.
In a text advisory, SeaOil
Philippines Inc. said it would increase prices of gasoline by 45 centavos per
liter, diesel by 60 centavos and kerosene by 55 centavos starting at 6
a.m.
“This is to reflect movements in the
international petroleum market,” it said.
Phoenix Petroleum Philippines and
PTT Philippines announced similar price adjustments.
Petron Corp. and Pilipinas Shell
Petroleum Corp. have yet to make an announcement but are also expected to raise
oil prices.
Flying V and Eastern Petroleum Corp.
implemented oil price increases at 12:01 a.m.
At the start of trading last week,
global oil prices surged to a one-year high after Russia signified its
participation in the Organization of Petroleum Exporting Countries (OPEC) deal
to cut production.
Later in the week, US data
pertaining to diesel and gasoline inventory drawdowns were more than expected,
propping up international oil prices, Reuters reported.
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