2nd wave of oil price hikes
BIG and small oil companies yesterday unleashed a second wave of fuel price increases.
Major oil firms PTT Philippines, Petron Corporation, Chevron Philippines, Total Philippines and Pilipinas Shell raised their prices of gasoline by P1.35 per liter and diesel by P0.80 per liter effective at 6:01 a.m. Tuesday.
Petron, Chevron, Pilipinas Shell, along with Flying V and Seaoil Philippines, will also impose P0.70 per liter price hike of their kerosene products.
Independent oil firms which do not sell kerosene such as Petro Gazz, Unioil Philippines, Phoenix Petroleum, and Eastern Petroleum moved its pump prices by the same increments at 6:01 a.m. while Clean Fuel at 4:01 p.m.
It was only on Holy Week when oil firms enforced significant price cuts of P3.60 per liter for gasoline, P2.90 for diesel and P3.30 for kerosene.
PTT Philippines Media Relation Officer Jay Julian said the second consecutive weeks of oil price hike reflects movement in the international oil market.
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