New oil prices
LOCAL pump prices continue to climb up after big and small oil companies unleashed their sixth consecutive week of fuel price increases effective today, February 8.
Petron Corporation, Pilipinas Shell, and Seaoil Philippines raised their prices of gasoline by P1.05 per liter, diesel by P1.20 per liter and kerosene by P1.25 per liter effective at 6 a.m. Tuesday while Chevron Philippines also moved its pump prices by the same increments much earlier at 12:01 a.m.
Thai-led PTT Philippines, Phoenix Petroleum, Total Philippines, Unioil Philippines, and Petro Gazz implemented the same set of hikes on their diesel and gasoline products, also at 6 a.m. Tuesday, while Clean Fuel at 4:01 p.m.
Energy sources said the continued spiking of international oil prices due to the production cut of oil-producing countries has caused the domestic prices to climb.
