• Oil prices rise again

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    In separate advisories, seven oil companies—Pilipinas Shell Petroleum, Caltex, Eastern Petroluem, Seaoil, PTT Philippines, Jetti and Flying V–on Monday announced that they will raise the prices of diesel by P0.30 per liter and gasoline by P0.50 per liter, respectively, effective February 7, Tuesday.

    For kerosene, Pilipinas Shell, Caltex, Seaoil and Flying V will increase its price by P0.30 per liter.

    All the oil companies said they will implement the price changes at 6 a.m., Tuesday except Flying V, which will implement the price adjustment earlier at 12 midnight.

    Department of Energy monitoring for Metro Manila as of January 31 showed that diesel prices ranged from P27.60 to P33.55 per liter with a common price of P30.65 per liter; gasoline from P38.80 to P48.90 with a common price of P47.08 per liter; and liquefied petroleum gas (LPG) in P11-kilogram cylinders from P471 to P690.

    Year-to-date adjustments are net increase of P1.54 per liter in gasoline and P0.90 per liter in diesel.
    LPG prices this month increased by P4.15 per kilogram.

    The latest price changes resulted from average price movements for the previous five trading days in the global market.

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