Oil firms hike gas prices Tuesday

MANILA, Philippines - Oil companies Petron Corp., Shell Philippines and independent oil firm PTT Philippines announced price hikes for gasoline effective 6 a.m. on Tuesday.

The three companies will have an increase of 20 centavos per liter of gasoline, while Petron and Shell will also have a 35-centavo increase per liter of kerosene.

The companies said there will be no adjustments on the price of diesel.

Shell said the price hike will not affect Bohol and Cebu, both declared in a state of calamity after a 7.2-magnitude earthquake that rocked the provinces last week.

Petron, meanwhile, attributed the price hike to movements in the international market.

The Department of Energy said the average gasoline price in Metro Manila is P52.90 per liter.