Fuel prices up P0.65/L this week

OIL COMPANIES are raising the prices of petroleum products this week by P0.65 per liter (/L) for gasoline, diesel and kerosene. All of the companies that sent their advisories will be adjusting prices at 6:00 a.m. on Sept. 10. This week’s hike is the fifth straight week of increases for gasoline products. It follows last week’s hefty P0.95/L hike, which was the highest rise since end-July. It is also the fourth consecutive price increase for kerosene and the third for diesel. The adjustment comes as the Department of Energy (DoE) urged oil companies to offer price discounts for public utility jeepneys to address inflation. So far, Pilipinas Shell Petroleum Corp. has offered an additional discount of P0.25/L for diesel through strategically located retail stations. The amount is over the P1 to P2 per liter discount being availed by jeepneys under a memorandum of understanding with the DoE, Pilipinas Shell, Petron Corp. and Phoenix Petroleum Philippines, Inc. on March 1. — Victor V. Saulon