Eastern Petroleum to raise diesel, gasoline, kerosene prices

Eastern Petroleum Corp. (EPC) on Monday said it will raise diesel and kerosene prices by 85 centavos per liter effective Tuesday. EPC chairman and president Fernando Martinez said in a media advisory EPC will also raise the price of its gasoline by 45 centavos per liter. On May 31, oil companies have raised their gasoline and diesel prices by 50 centavos and 25 centavos per liter, respectively. As of this posting, other oil firms have yet to announce if they will also raise their fuel prices. As of May 31, the price of diesel was pegged at P42.60 to P44.60 per liter while gasoline was selling at P51.25 to P57.52 per liter. The current year-to-date net increase is P5.67 per liter for gasoline and P5.30 for diesel. — JMT/VS, GMA News