WITH only days to go just before the school opening, oil companies yesterday announced the implementation of a big-time price hike effective today.
Pilipinas Shell, one of the three oil giants in the country, spearheaded the announcement of the increase in prices of their petroleum products effective at 6 a.m. today.
Shell said pump prices of their gasoline was increase to P1.20 per liter, kerosene at P1.25 and P1.00 for diesel.
The increase was reportedly due to movement of oil prices in the world market.
Other oil companies, including the two other oil giants, have yet to make an announcement of increase in their petroleum products.
Last May 17, oil companies implemented a price hike, particularly in diesel, at P0.30 per liter, while no adjustment for gasoline and kerosene.
The increase came a week after oil companies implemented a rollback on oil prices on May 9.