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

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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.

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.


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Tags: Energy , fuel price hikes , oil and gas , oil firms , Philippines

  • Hellomr

    Commodities
    Brent Crude Oil : $108.15/BBL 0.07%
    Light Crude Oil : $106.91/BBL -1.07%
    Natural Gas : $3.68/MMBtu -2.96%
    Unleaded Gasoline : $3.05/gal -2.41%
    prices from: Jul 22 change
    Here’s the market price for today and yet prices went up … How come…

  • Hellomr

    Commodities
    Brent Crude Oil : $108.07/BBL -0.58%
    Light Crude Oil : $108.05/BBL 0.01%
    Natural Gas : $3.79/MMBtu -0.55%
    Unleaded Gasoline : $3.12/gal 0.43%
    prices from: Jul 19 ch

    How come prices of petroleum went down….

  • bubi78

    Grabe dito sa amin PH 60.12/liter ang premium! The stock reply of the DOE’s apologists and, of course, of the oil firm themselves is that the prices of fuel and oil only “reflect the movements in the international oil markets.” How facile and convenient for them to say that, but the last time premium gasoline hit the PH 60/liter level (i.e. here in our city) was in 2008; back then, as KappaPhiPhi mentioned, crude oil was at $140 per barrel and the dollar to peso exhange rate was 1:50. In contrast the current crude oil price is $106 per barrel and the exchange rate is 1:43.

    A contributory factor to the inflated prices of fuels and oils, one that the government declines to acknowledge and abhors to relinquish, is the EVAT on petroleum products. Alas, aside from the EVAT, there is the excise tax to contend with, not to mention the duties levied on imported petroleum products; all these weigh heavily on the price that the consumer has to pay in the end. Even so, there are still other factors involved, e.g. the cartel in the oil industry, computations as well, but these are beyond my ken to expound on. To make matters worst, it seems the current administration, through the DOE, has given the oil firms carte blanche to set their prices as they see fit. But why? Was it because the oil firms contributed heavily to the campaign kitty of PNoy and lately to the campaign funds of the Liberal Party in the midterm elections, as well? This is mere conjecture and even if it is true, nobody will vouch that it is so. It must be that grease and money are inherently interwined and one follows the other. Draw your own conclusion yourself; but the indubitable truth remains – the oil firms are bent on squeezing the Filipinos dry for the highest possible profits ever and the government, on its part, is keen on keeping its share of the much needed revenues derived therof. What about us? Well, the government has given us 7.8% GDP growth, two investment grade ratings, peace pact with the MILF, expanded Philhealth coverage, etc., ad nauseum. Yeah, what is there to complain about? Nada, only inconsiderate ‘talangkas’ do that!

  • KappaPhiPhi

    bakit nga ba noon 140 usd per barrel mas mataas pa yung palitan ng usd, mag kasing presyo lang ngayon?

  • db2 synon

    Oil Firms= leeches…DOE..Good for nothing..but monitoring

  • Collegejock

    Wtf? Why dont u just shoot us and get it over and done with quickly?!?



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