By Kris Crismundo

(File photo)

MANILA – After a hefty price hike last week, oil companies will implement price increases anew on April 16 (Tuesday).

In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they would raise gasoline prices by PHP0.40 per liter and diesel prices by PHP0.95 per liter.

This will be the fifth straight week that gasoline prices are up.

Caltex, Seaoil, and Shell will also hike kerosene prices by PHP0.85 per liter.

Other oil firms are expected to implement the same price adjustments.

Data from the Department of Energy (DOE) showed the previous week’s oil price hike has increased year-to-date prices of gasoline by PHP1.10 per liter, PHP1.55 per liter for diesel, and PHP1.40 per liter for kerosene.

According to global oil industry experts, supply concerns and geopolitical tensions, especially in the Middle East, have been affecting global oil prices. (PNA)