Oil firms hike fuel prices: Gas up PHP1.90/l, diesel PHP2.10/l

Petroleum companies announced significant increases in fuel prices effective July 18, with gasoline prices rising by PHP1.90 per liter and diesel by PHP2.10 per liter.

Kerosene prices will also increase by PHP1.80 per liter for some companies like Caltex, Petron, Seaoil, and Shell.

This marks the second consecutive week of price hikes for diesel and kerosene, while gasoline saw a slight rollback last week before this hike.

Experts attribute the global commodity price support to easing inflation in the US, with Brent crude reaching USD81 per barrel and WTI touching USD76 per barrel recently.