Oil firms will raise the pump prices of petroleum products for the sixth week in a row on Tuesday, Aug. 15, with prices expected to rise by up to P2.50 per liter. | MegINQ /PDI
Saudi Arabia, the world’s largest oil exporter, previously said it would cut crude production by 1 million barrels per day , resulting in a two-year low of 9 million b/d.The price of gasoline on Aug. 8 increased by 50 centavos per liter, diesel by P4 per liter and kerosene by P2.75 per liter.
This resulted in a year-to-date net increase of P11.50 per liter for gasoline, P7.10 per liter for diesel, and 2.60 per liter for kerosene, the DOE said.Subscribe to our daily newsletter
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