Oil companies raise gasoline, diesel prices
THE prices of gasoline and diesel went up by P1.10 and 20 centavos, respectively. The cost of kerosene stayed the same. The increase, which took effect on Tuesday, came after two straight weeks of price rollbacks. The Department of Energy's Oil Industry Management Bureau attributed the increase mainly to the attack on Hezbollah members in Lebanon using explosives hidden inside pagers and walkie-talkies, as well as the recent 0.50 interest rate cut imposed by the US Federal Reserve. Other factors include lower US crude inventories, a Japan refinery going under maintenance, and Malaysia removing subsidies to some fuel products. So far this year, the price of gasoline has gone up by P5.95 and diesel by P1.95. The price of kerosene has dropped by P6.35.
Tomas Kauer - Moderator 
THE prices of gasoline and diesel went up by P1.10 and 20 centavos, respectively.
The cost of kerosene stayed the same.
The increase, which took effect on Tuesday, came after two straight weeks of price rollbacks.
The Department of Energy's Oil Industry Management Bureau attributed the increase mainly to the attack on Hezbollah members in Lebanon using explosives hidden inside pagers and walkie-talkies, as well as the recent 0.50 interest rate cut imposed by the US Federal Reserve.
Other factors include lower US crude inventories, a Japan refinery going under maintenance, and Malaysia removing subsidies to some fuel products.
So far this year, the price of gasoline has gone up by P5.95 and diesel by P1.95.
The price of kerosene has dropped by P6.35.
