Pilipinas Shell, Eastern Petroleum hike gas prices effective Tuesday

Pilipinas Shell Petroleum Corp. increased Tuesday the prices of regular gasoline by 80 centavos a liter and unleaded gasoline by 40 centavos a liter to reflect movements in international oil prices.

Independent player Eastern Petroleum also jacked up the prices of all its gasoline products by 50 centavos per liter, and of diesel by 25 centavos a liter, effective Tuesday.

Other oil companies have yet to announce their respective price adjustments as of press time.

The oil companies said the latest price adjustment reflected the uptrend in the prices of fuel products in the global market.

Last week saw an increase in the prices of unleaded gasoline by 80 centavos a liter and regular gasoline by 85 centavos a liter.

Prior to today’s oil price adjustments, gasoline prices hovered between P48.38 to P55.30 a liter, while diesel products retailed for P43.24 to P46.83 a liter.

As of December 6,  the price of gasoline has risen by P4.51 a liter and diesel, by P6.79 a liter from a year ago.

Originally posted: 10:44 pm | Monday, December 12th, 2011