MANILA – Oil firms hiked prices of their petroleum products yesterday, the fourth in a row this year.

Pilipinas Shell Petroleum Corp., Petron Corp. and Chevron Philippines (formerly Caltex Philippines) raised their respective prices of diesel and kerosene by P0.90 per liter; regular gasoline by P0.70 per liter; and premium (including unleaded) by P0.50 per liter at 6 a.m. yesterday.

Total Philippines have the same increments at 6 a.m. but save for kerosene, while the independent player, Eastern Petroleum Philippines, raised its diesel and kerosene by P0.90 per liter, regular gasoline by P0.70 per liter and unleaded by P0.50 per liter effective 12:01 a.m.

The same oil firms, except for Eastern Petroleum, hiked pump prices twice last week, resulting to an accumulated increase of P1.80 per liter on unleaded, P1.50 per liter on diesel and P1.30 per liter on regular gasoline.

Eastern, implemented a one-time hike worth P1.75 on gasoline and P1.50 on diesel and kerosene.

The adjustment marked the fourth fuel price increase so far this year. It likewise jacked up the average retail prices in Metro Manila to the following levels: diesel, P46; unleaded, P53.50 and kerosene, P54.50.

The recent movement in the international market was cited as reason for the latest price hike.*PNA

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