Oil prices up today

June 17, 2019
Oil price hike

PRICES of fuel  rise again today after three consecutive weeks of rollback.

Independent oil firms PTT Philippines, Unioil Philippines, Jetti Oil, Petro Gazz, Eastern Petroleum and Phoenix Petroleum announced an increase of P0.35 for gasoline and P0.20 for diesel effective 6 a.m. today.

Major oil firms Pilipinas Shell, Petron Corporation and Chevron Philippines also will implement the same price hike and P0.25 for kerosene effective 6 a.m. today. Independent players do not sell kerosene products.

Energy sources said the increase in petroleum products is due to movements in the world market particularly the Means of Platts Singapor (MOPS) as well as the volatility of foreign exchange rate.