Oil firms hike prices anew

Local oil companies raised again the pump prices of their petroleum products on Tuesday, Feb. 19, 2013, to reflect the continued uptrend in the prices of oil in the international market. AP FILE PHOTO

MANILA, Philippines—Local oil companies have raised again the pump prices of their petroleum products to reflect the continued uptrend in the prices of oil in the international market.

Pilipinas Shell Petroleum Corp., Petron Corp., Chevron Philippines and Total Philippines increased on Tuesday the prices of regular gasoline by P1.15 per liter, premium gasoline by 95 centavos per liter, kerosene by 70 centavos a liter and diesel by 65 centavos a liter.

With the latest price adjustment, the prices of diesel now range between P41.70 and P44.75 a liter while those of gasoline products are now sold between P51.35 to P57.70 a liter, data from the Department of Energy showed.

Based on the price adjustments implemented since the beginning of the year, the price of gasoline has increased by P3.40 a liter, and diesel, by P2.50 a liter.

Meanwhile, Anakpawis party-list on Tuesday urged President Aquino to impose an indefinite price freeze on the prices of petroleum products, following the successive oil price hikes.

In a statement, Anakpawis party-list vice chairman Fernando Hicap said that “national interest compels the Aquino [administration] to stop the oil cartel from exploiting the crisis and taking advantage of the election season to illegally and immorally jack up prices of their oil products.”