Big-time oil price hike effective today

Oil companies implemented on Tuesday a hefty price increase on their products: P2.20 per liter for gasoline, P1.40 per liter for diesel and P1.30 per liter for kerosene. Jetti Petroleum, Petro Gazz, Pilipinas Shell, PTT Philippines, Seaoil and Unioil applied the price hike at 6 a.m., followed by Caltex at 6:01 a.m. Cleanfuel was the last to jack up pump prices at 4:01 p.m. This week’s price increase followed last week’s mixed adjustment, as the price of gasoline went up by 10 centavos per liter as diesel dropped by 10 centavos per liter. —JORDEENE B. LAGARE