Oil firms hike prices again

October 08, 2018

MORE local oil firms yesterday announced another round of big-time price increases on their respective fuel prices, marking the companies’ ninth consecutive week of fuel price surge.

Major oil players Pilipinas Shell, Petron Corporation and Chevron Philippines bared that at 6 a.m. today, they would increase their respective prices of diesel by P1.45 per liter, gasoline by P1.00 per liter and kerosene by P1.35 per liter.

Earlier, independent players Total Philippines, Phoenix Petroleum Philippines, Eastern Petroleum, Unioil, PTT Philippines, Seaoil and Flying V also issued advisories on the new prices effective at 6 a.m. today while the other distributors were expected to follow suit.

The ninth consecutive week of price increases, according to oil distributors, was implemented to reflect the movements in world oil prices.