This time, oil firms hike pump prices

AFTER reducing fuel prices the last several weeks, oil companies raised pump prices effective today (Tuesday), partially offsetting the previous price rollbacks.

Pilipinas Shell Petroleum Corp. and Petron Corp. raised their gasoline prices by 45 centavos per liter; diesel by 20 centavos a liter, and kerosene by 10 centavos a liter.

Phoenix Petroleum Philippines also implemented the same price adjustments for its gasoline and diesel products.

The price increases were meant to track the higher prices of refined petroleum products in the international market.

The other oil companies had not announced their price adjustments at press time but are expected to follow suit.

Last week, oil companies slashed gasoline prices by 65 to 75 centavos a liter; diesel by 45 to 50 centavos a liter, and kerosene by 80 centavos a liter. Amy R. Remo