Tuesday, May 23, 2017
Close  
business /
  • share this

Oil firms hike fuel prices Tuesday starting 6 a.m.

Oil firms raised prices by 6 a.m. Tuesday, July 23, 2013, to reflect international price movements. AP FILE PHOTO

MANILA, Philippines—Oil firms raised prices by 6 a.m. Tuesday to reflect international price movements.

Petron, Pilipinas Shell, Chevron Philippines and Seaoil said in separate advisories via text message that the gasoline prices would be up by 50 centavos per liter, diesel by 35 centavos/liter and kerosene by 50 centavos/liter.

Such adjustments reflect movements in the international oil market, the companies said.

ADVERTISEMENT

Shell also said the price increases were “with DOE acknowledgment.”

Other companies had not yet announced their respective price hikes as of this writing, although oil firms operating in the Philippines tend to track each other’s price movements since the country imports about 90 percent of its fuel requirements.

Just this month, pump prices were rolled back once and raised thrice, not including Tuesday’s increase.

From 6 a.m. on July 16, Petron, Shell and Chevron hiked prices by P1.60 per liter for gasoline, P1 per liter for kerosene and 75 centavos per liter for diesel.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Energy, fuel price hikes, oil and gas, oil firms, Philippines
For feedback, complaints, or inquiries, contact us.




© Copyright 1997-2016 INQUIRER.net | All Rights Reserved