OIL PRICE HIKE AGAIN
FOLLOWING two weeks of fuel price cuts, oil companies announced an increase in prices of diesel and gasoline and slight price cut of kerosene starting today.
In its advisory, major oil firms Petron Corporation, Pilipinas Shell, and Chevron Philippines bared that they would increase their respective pump prices by uniform amounts, particularly P1.05 per liter on diesel products, P0.90 centavos per liter on gasoline, while a price cut of kerosene by P0.25 centavos per liter.
The price adjustment of Chevron Philippines will take effect at 12:01 a.m. on Tuesday while Petron Corporation and Pilipinas Shell, along with independent oil firms Seaoil Philippines and Flying V, will carry out their respective price adjustments at 6 a.m., Tuesday.
Other independent oil companies which do not carry kerosene such as Thai-led PTT Philippines, Petro Gazz, Unioil Philippines and Total Philippines said they would increase their pump prices of gasoline and diesel by the same levels also at 6 a.m. Tuesday, except for Clean Fuel which will implement the price adjustments at 4:01 p.m.
Oil industry sources said the increasing demand for oil in the international oil market has caused domestic prices of diesel and gasoline to climb up.
