Gas prices up for 2nd straight week

Oil firms have implemented price increases today, the second consecutive week local players raised pump prices.

Gasoline prices were raised by P0.40 per liter, diesel by P0.35 per liter and kerosene by P0.70 per liter.

Flying V, Phoenix Petroleum Philippines Inc., Pilipinas Shell Petroleum Corp. and PTT Philippines Corp. implemented their respective price adjustments at 6 a.m.

Meanwhile, Caltex, Eastern Petroleum, Petron Corp., Seaoil Philippines Inc., Total Philippines Corp. and UniOil Petroleum Philippines Inc. have yet to announce their respective price changes as of this writing.

Last week, international crude prices started higher after the US benchmark passed the $75 level per barrel for the first time in more than three years.

The uptrend was mitigated by the July 4 holiday in the US and after US President Donald Trump posted on Twitter for the Organization of Petroleum Exporting Countries to reduce crude prices.