Oil firms will increase the price of diesel by 55 centavos per liter and gasoline by 70 centavos per liter on August 16, Tuesday.
Flying V will adjust prices at 12:01 a.m. on August 16. Pilipinas Shell Petroleum, PTT Philippines, Phoenix Petroleum Philippines, Unioil, Seaoil and Eastern Petroleum will hike prices at 6 a.m. on August 16.
Based on Department of Energy data as of August 9, most local oil companies implemented rollbacks in gasoline prices by 10 centavos per liter, diesel by 35 centavos per liter and kerosene by 30 centavos per liter.
These price movements brought the year-to-date adjustments to a net increase in gasoline of 94 centavos per liter and diesel of P4.28 per liter. LPG (liquefied petroleum gas) remained at net decrease of P7.78 per kilogram.
Retail prices in Metro Manila as of August 9 were: diesel, P22.70 to P26.10 per liter with common price of P25.15; gasoline, P33.30 to P40.35 per liter with common price of P38.25; and LPG, P492 to P620 per 11 kg cylinder.