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Another fuel price increase

BIG and small oil companies will implement another round of fuel price increase effective today, Tuesday.

Major oil firms Petron Corporation and Pilipinas Shell will increase the price of their diesel products by P0.50 per liter, kerosene by P0.30 per liter while no movement of prices for gasoline products effective at 6 a.m. Tuesday.

Earlier at 12:01 on Tuesday, Chevron Philippines, another major player, started to implement the same price adjustments of its diesel and kerosene products.

Independent oil firms PTT Philippines Petro Gazz, Seaoil, Unioil, Phoenix Petroleum and Total Philippines also announced an increase of P0.50 of their diesel products while no movement of prices in their gasoline.

Energy sources said the two consecutive week of pump price increases reflect movements in the international oil market.