OIL companies will implement another round of oil price increases effective today.
Pilipinas Shell, one of the three oil giants, and independent oil players PTT Philippines, Seaoil, Phoenix Petroleum Philippines, Flying V and Eastern Petroleum, spearheaded the announcement of an oil price hike.
Flying V and Eastern Petroleum said the increase in their petroleum products took effect at 12:01 a.m. while others at 6 a.m. today.
Diesel prices will increase by P0.60 per liter, P0.55 for kerosene and P0.45 for gasoline.
The increase, the 9th since August, was due to the movement of oil prices in the world market.