Another big-time oil price increase
LOCAL oil firms yesterday announced another round of big-time fuel price hikes effective today, the seventh consecutive week of price increases.
Major oil firm Chevron Philippines said effective 12:01 a.m. today, they will enforce price hikes of P1.20 per liter on gasoline, P1.05 per liter on diesel and P0.65 centavos per liter on kerosene.
Two other oil giants — Petron Corporation and Pilipinas Shell — and independent oil firm Seaoil Philippines announced that they will increase their pump prices by the same level effective 6 a.m.
Thai-led PTT Philippines, Phoenix Petroleum, Total Philippines, Unioil Philippines and Petro Gazz will implement the same price adjustments on their diesel and gasoline products at 6 a.m. while Clean Fuel at 4:01 p.m.
Energy sources said the widespread unrest in Kazakhstan and Libya, two major oil producers, have caused the disruptions of supply of oil causing domestic fuel prices to continue to climb.
