Again, oil firms up prices

Oil companies raised fuel prices anew Wednesday to reflect the continued uptrend of oil prices in the global market last week.

Independent player Eastern Petroleum Corp. was the first to announce that it would jack up prices of gasoline by P1 a liter and diesel, by 50 centavos a liter.

The other oil firms meanwhile made their advisories after implementing their respective price adjustments also yesterday.

Pilipinas Shell Petroleum Corp. and Seaoil Philippines said they have hiked prices of premium gasoline by P1.15 a liter, regular gasoline by P1.35 a liter; kerosene by 55 centavos a liter, and of diesel by 50 centavos a liter.

Petron Corp. and Chevron Philippines implemented the same increases except for the price of regular gasoline, which they hiked by P1.30 a liter, and of kerosene, by 50 centavos a liter.

Prior to this week’s oil price hike, gasoline prices ranged from P51.48 a liter to P58.50 a liter, while diesel products retailed anywhere between P44.69 a liter to P48.28 a liter. Amy R. Remo