MANILA, Philippines - Oil firms announced last night they would increase the prices for diesel and kerosene by P1 and P1.10 per liter, respec- tively, effective today.
Petron, Seaoil, Phoenix Petroleum Phils., and Total Phils. said the increase reflected crude oil price movement in the international market.
Company officials, however, said they would reduce the prices for premium and unleaded gas by 50 centavos. Total rolled back its premium and unleaded gas pric- es by 20 centavos.
No price adjustment was made for regular gas price.
Other oil firms have yet to announce their price increases.
Last week, the oil firms also raised the prices of petroleum products by as much as P1.40 per liter.