OIL firms will implement big-time fuel price increases today.
Pilipinas Shell, Petron Corporation and Chevron Philippines announced a P2.35 increase in gasoline prices, diesel by P1.80 and kerosene by P1.75 effective 6 a.m.
PTT Philippines, Eastern Petroleum, Phoenix Petroleum Philippines, Petro Gazz, Seaoil Philippines, Total Philippines and Unioil will also implement the same oil price increases.
Last week oil firms implemented price hikes of P1.35 for gasoline, P1 for kerosene and P0.85 on diesel
The increase in pump prices was due to the drone attacks at oil facilities in Saudi Arabia, the largest exporter of petroleum products.