Fuel prices up for 6th time this year

February 6, 2018 - 7:27 AM
3802
(Reuters)

MANILA, Philippines — Fuel prices increased Tuesday, the sixth hike this year, with gasoline prices up by 50 centavos a liter, diesel by 35 centavos a liter, and kerosene, 60 centavos a liter.

Flying V earlier said it would implement the increase at 12:01 a.m., while Shell, PTT Philippines, SEAOIL, Unioil, Eastern Petroleum, were expected to adjust their pump prices at 6 a.m.

The Department of Energy said it would require oil companies, through the Oil Industry Management Bureau, to unbundle, or itemize, their prices and bare the reasons for price adjustments, upward or downward.

DOE-OIMB assistant director Del Romero said Energy Secretary Alfonso Cusi is preparing to release a circular to this effect.