GOOD NEWS: Oil companies will implement another big-time price increase on petroleum products this week

 


Oil companies will increase fuel prices again this week, this time by PHP2.15 per liter for gasoline and PHP4.30 per liter for diesel. Caltex, Seaoil, and Shell will also hike kerosene prices by PHP4.85 per liter.

The peso hit 53 to a dollar last week, its weakest in more than three years. On the other hand, oil prices fell on Monday amid risks of slower demand due to increasing Covid-19 cases in Beijing, as well as inflation concerns.

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