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Another oil price hike

LOCAL oil firms will implement another increase of pump prices effective today, Tuesday.

Major oil firms Petron Corporation and Pilipinas Shell announced an increase of P0.50 per liter of gasoline, P0.55 per liter of kerosene and P0.60 per liter of diesel effective 6 a.m. Tuesday.

Former Caltex Philippines Chevron Corporation also announced the same price increase which will take effect much earlier at around 12:01 a.m. while independent oil firm Clean Fuel will adjust its prices of diesel and gasoline products by the same increment at 4:01 p.m. Tuesday.

Thai-led PTT Philippines, Seaoil, Unioil Philippines, Petro Gazz, Total Philippines and Flying V also announced the same price adjustment effective also at 6 a.m. today, Tuesday.

Major oil firm Pilipinas Shell, Petron Corporation and Chevron Corporation will still implement a price freeze on kerosene in areas under the state of calamity.

PTT Philippines Communication Officer Jhay Julian said the increase of pump prices reflect movements in the international oil market.