Fuel firms announce big-time price hike

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Metro Manila (CNN Philippines, June 6) — Motorists, heads up! Oil companies announced that they will raise the prices of fuel products starting Tuesday.

In separate advisories, Seaoil, Cleanfuel PTT Philippines, Phoenix Petroleum, Petro Gazz, Petron, and Flying V said their pump prices will increase by ₱2.70 per liter for gasoline and ₱6.55 per liter for diesel effective June 7.

Seaoil, PTT Philippines, Phoenix Petroleum, Petro Gazz, Petron, and Flying V will implement the price hike at 6:00 a.m. while Cleanfuel will impose the increase at 8:01 a.m.

Seaoil and Flying V also announced that kerosene price will go up by ₱5.45.

Other companies have yet to make similar announcements.

The Department of Energy said net price increases since the start of the year for gasoline, diesel and kerosene stood at ₱23.85, ₱30.30 and ₱27.65 per liter, respectively, as of May 31.

This is a developing story.