Home>News>Metro>Another oil price hike

Another oil price hike

MOTORISTS will experience today, Tuesday, another increase of pump prices a week after local oil companies implemented a meager price reduction of their petroleum products.

Major oil firms Petron Corporation and Pilipinas Shell announced an increase of P0.60 per liter of gasoline, P0.70 per liter of diesel and P0.85 per liter of kerosene effective at 6 a.m. Tuesday while Chevron Corporation implemented the same price adjustments much earlier at 12:01 a.m.

Independent oil firms PTT Philippines, Petro Gazz, Seaoil Philippines and Total Philippines also implemented a P0.60 per liter increase of their gasoline products and diesel at P0.70 per liter effective at 6 a.m. Tuesday while Clean Fuel imposed the same price adjustments at 4:01 p.m.

PTT Communication Officer Jhay Julian said the local oil price hike reflects the movement of prices in the world market.