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Amid continuing tensions between Russia and Ukraine that caused the global petroleum inflation, local oil companies announced their largest price hikes yet.
Caltex, Petron, Cleanfuel, and PTT Philippines said they would increase pump prices for the 11th straight week, starting March 15.
Diesel is set to increase by P13.15 per liter, gasoline by P7.10 per liter and kerosene by P10.50 per liter.
However, Petro Gazz will adjust their prices minimally. Its diesel pump price will rise by P6.50 per liter and gasoline by P3.50 per liter.
Oil companies have already started increasing their prices since the start of 2022. Diesel is already up by P30.65 per liter, gasoline by P20.35 per liter, and kerosene by 21.90 per liter. Ronald Espartinez