BIG and small oil companies imposed another round of price increase, their 8th collective fuel price hike, effective today, Tuesday.
Independent oil firms PTT Philippines, Petro Gazz, Total Philippines, Unioil and Eastern Petroleum jack up the prices of their gasoline by P1.00 per liter and diesel by P0.65 per liter effective at 6 a.m. while Clean Fuel also imposed the same price adjustments at 4:01 p.m.
Major oil firms Petron Corporation and Pilipinas Shell also announced the same set of hikes on their gasoline and diesel products while kerosene products by P0.70 centavos per liter effective at 6 a.m. Tuesday.
Earlier, Chevron Philippines implemented the same price increase of their diesel, gasoline and kerosene products at 12:01 a.m., Tuesday.
PTT Communication officer Jhay Julian said the price adjustment mainly reflects the movements in the international oil market.