Shell, Seaoil raise prices
Pilipinas Shell Petroleum Corp. and Seaoil Philippines raised the prices of their regular gasoline by 50 centavos a liter and of kerosene by 25 centavos a liter effective Tuesday.
At the same time, both companies slashed the prices of premium gasoline by 35 centavos a liter.
Independent player Eastern Petroleum Corp. raised the price of its diesel by 25 centavos a liter also effective Tuesday, saying it was forced to do so because of a $1-a-barrel increase in the price based on the Mean of Platts Singapore (MOPS) benchmark.
Other oil companies had yet to announce price adjustments as of press time.
Global oil prices have again been rising, resulting in consecutive increases in the prices of petroleum products.
According to a report of the Department of Energy, world oil prices had inconsistent movements—moving up and down amid worries of improving demand, a supply shortage from Libya and the continued Euro zone debt crisis.
