Big-time oil price hike looms 

Oil companies on Monday announced another big increase in pump prices.

Caltex, Cleanfuel, Pilipinas Shell, PetroGazz, Unioil, and Seaoil will implement a P1.90 per liter price increase of diesel and P1.45 per liter price hike in gasoline.

The oil firms also raised the kerosene prices to P1.70 per liter for the rest of the week.

Fuel firms usually announce price adjustments every Monday to be implemented on the following day’s morning.

Last year, the Department of Energy said prices had a total net increase of P17.65 per liter for gasoline, P14.30 per liter for diesel, and P11.54 per liter for kerosene.