OIL companies continue to rev up the price machine with a new round of increases effective today.

Chevron Philippines was first to announce an increase of its gasoline products by P1.10 per liter while cutting the price of kerosene by P0.35, with no movement of prices for diesel products, starting 12:01 a.m.

Two other major oil companies — Petron Corporation and Pilipinas Shell — also announced the same mixed price adjustment effective at 6 a.m., along with Seaoil Philippines and Flying V.
Independent oil firms PTT Philippines, Petro Gazz, Unioil Philippines, Eastern Petroleum and Total Philippines, which do not sell kerosene, in their separate advisories will also implement an increase of P1.10 per liter in gasoline prices with no movement of prices for diesel products effective at at 6 a.m. while Clean Fuel at 4:01 p.m.

PTT Communication Office Jay Julian said an increase in the price of crude oil, a major component of gasoline in the international oil market, was the reason why the price of gasoline in the local market increased.

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Edd Reyes