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Oil price hike after minimal rollback

  • Written by Edd Reyes
  • Published in Metro
  • Read: 237

AFTER a minor price rollback last week, oil companies are set to hike prices of petroleum products effective today at 6 a.m.

Pilipinas Shell, Petron Corporation, Ptt Philippines, Seaoil and Phoenix Petroleum Philippines are set to increase the prices of gasoline by P0.35 centavos per liter, diesel by
P0.55 centavos and P0.80 centavos per liter for kerosene.
    
Other oil companies are expected to announce their price increases at the same level today.
     
Sources from oil industry players said the increase in fuel prices was driven by prices of petroleum products on the global market.
 
Last week, oil companies reduced the prices of gasoline by P0.40, diesel by P0.39 while no change of price was made for kerosene.