MAJOR and independent oil companies announced another big-time increase on pump prices effective Tuesday.
Petron Corporation and Pilipinas Shell in separate advisories announced an increase of gasoline prices by P1.15 per liter while diesel and kerosene at P1.10 per liter effective 6 a.m. today.
Another major oil player, Chevron Philippines, also announced the same price adjustment which takes effect also Tuesday.
Thai-led PTT Philippines, an independent oil player, along with Petro Gazz, Sea Oil Philippines, Unioil, Total Philippines, Phoenix Petroleum and Eastern Petroleum will also increase the prices of their gasoline and diesel products by the same increment effective at 6 a.m. Tuesday.
PTT Philippines Communication Officer Jhay Julian said the continued increase of local pump prices was the result of an upper trend of oil trading in the international oil market.