Fuel prices up again

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11:18 AM July 23rd, 2013

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By: Riza T. Olchondra, July 23rd, 2013 11:18 AM

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MANILA, Philippines—Four oil companies raised prices of petroleum products at 6 a.m. Tuesday to reflect international price movements.

Petron, Shell, Chevron, and Seaoil said in separate advisories via text message that the gasoline prices were to go up by P0.50/liter, diesel by P0.35/liter, and kerosene by P0.50/liter.

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

Shell said the price increases were “with DOE acknowledgement.”

Other companies have not announced any price increase. Oil companies  operating in the Philippines tend to track each other’s price movements since the country imports about 90 percent of its fuel requirements.

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