OIL companies implemented another round of price hike, the sixth in the series, that started in last August, effective today.
Petron Corporation, one of the three oil giants in the country, Flying V, Phoenix Petroleum and PTT, three of the so-called independent oil industry players, spearheaded the announcement of the implementation of the increase.
The increase was pegged at P0.25 per liter in pump prices for in gasoline and diesel and P0.20 per liter for kerosene. Flying V peddged it at P0.30 per liter.
Increase in prices of petroleum products of Flying V took at 12:01 a.m. while the rest of the oil companies implemented their increase at 6 a.m.
The increase was reportedly due to movement of oil prices in the world market.