Shell Philippines increased its diesel prices by 80 centavos per liter; gasoline by 90 centavos; and kerosene by 75 centavos, beginning Tuesday at 6 a.m.
According to a Philippine Daily Inquirer report, other oil retailers are expected to follow this increase started by Shell.
The increase was due to the volatile prices of Dubai crude oil, which is the standard for Asian markets. Since May 13 the prices have climbed up to $71.15 per barrel.
The prices of diesel have gone up 13 times and decreased five times this year alone, with a net increase of P6.20 per liter starting January.
With additional excise and value-added taxes, diesel prices have increased by P8.44 per litter, which is double the P3.05 per liter increase for the whole 2018.
Meanwhile, gasoline prices went up 16 times and decreased five times with a net increase of P7.55 per liter in the same period.
The total increase for gasoline has reached P9.79 per liter, including the added taxes.
