Local oil firms bare price hike
AFTER three consecutive weeks of price rollbacks, local oil firms announced an increase of fuel prices effective Tuesday.
Chevron Philippines and Pilipinas Shell implemented a price hike of their gasoline products by P0.40 per liter, diesel by P0.60 per liter and kerosene by P0.70 per liter effective at 12:01 a.m. and 6:00 a.m. respectively.
Independent oil firms PTT Philippines, Petro Gazz, Total Philippines, Unioil Philippines and Seaoil also imposed the same price adjustments of their gasoline and diesel products effective at 6 a.m. Tuesday.
Another oil giant Petron Corporation and independent firm Phoenix Petroleum implemented the same set of hikes on their products also at 6 a.m. Tuesday while small player Clean Fuel at 4:01 p.m.
PTT Communication Officer Jhay Julian said the continued spiking of international oil prices have caused domestic prices to climb.
