Oil firms will implement price adjustments on fuel products starting Jan. 17.
In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will increase gasoline prices by PHP0.95 per liter and PHP0.50 per liter on diesel prices.
On the other hand, Caltex, Seaoil, and Shell will cut kerosene prices by PHP0.15 per liter.
Other oil companies are expected to follow suit.
Last weeks, oil firms implemented price rollbacks.
Global oil prices improved last week following the softer United States’ inflation data and hopes on demand recovery from China as eases its coronavirus disease 2019 (Covid-19) restrictions.
As of posting, West Texas Intermediate (WTI) crude traded at USD79.24 per barrel, while Brent sold at USD84.53 per barrel.On the other hand, Dubai crude closed last week higher at USD80.02 per barrel. PNA