up, for the second week straight, by P1.25 per liter. The price hikes by Petron, Shell, Seaoil, Total, PTT and Phoenix took effect at 6 a.m. on Tuesday. Diesel prices have seen a cumulative increase of P7 per liter. Gasoline prices have increased by a total of P3 per liter.
Petron, Shell and Seaoil also raised the price of kerosene by 75 centavos per liter. This was the sixth weekly increase, now totalling P8.80 per liter. At the crude oil futures market, Brent crude contracts were pegged as of press time at $38.34 per barrel, down from $40.80 per barrel a week earlier. Dubai crude was pegged at $41.52 per barrel as of June 10, up from $39.26 per barrel on June 3. —
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