Another oil price hike
LOCAL pump prices continue to climb following another round of price increase effective today, Tuesday.
Major oil players Pilipinas Shell and Petron Corporation in separate advisories bared that at 6 a.m. today, they would increase the pump prices of their gasoline products at P0.45 per liter, diesel by P0.35 per liter and kerosene by P0.65 per liter.
Chevron Corporation, another major oil firms, also implemented the same price adjustment much earlier at 12:01 a.m. while Seaoil Philippines, an independent oil firm, imposed their price increase at 6 a.m.
Thai-led PTT Philippines, Total Philippines, Phoenix Petroleum and Petro Gazz implemented the same price adjustments of their diesel and gasoline products at 6 a.m. while Clean Fuel at 4:01 p.m.
Domestic pump prices continue to increase as a result of the effects of great global demand for petroleum.
