Bohol, Cebu spared from oil price hike

MANILA, Philippines - Fuel firms spared the earthquake-ravaged  Bohol and Cebu from the burden of oil price hike, as they announced Monday night another round of price increases for the second consecutive week.

 The firms announced a 35-centavo per liter increase for kerosene and 20-centavo per liter for gasoline.

Petron Corp., the country’s largest oil refiner, said the latest adjustment reflects movements in the global market. It said the price increases for kerosene and gasoline took effect at 6 a.m. yesterday.

“There is no movement for diesel. The adjustment will not be implemented in Bohol and Cebu,” Petron said.

Two other oil giants, Pilipinas Shell Petroleum Corp. and Caltex, issued a similar announcement, sparing Bohol and Cebu from the price hikes. So did the independent oil player PTT Philippines.

“PTT will jack up prices of gasoline by 20-centavos per liter effective Tuesday at 6 a.m. There will be no movement on diesel price,” it said in a statement.

Shell said it has a stable supply of fuel in quake-affected regions in the Visayas.

“Despite challenging conditions, consumers can look forward to uninterrupted supply of Shell fuel and lubricant technology products,” Bobby Kanapi, Shell vice president for communications, said.

This is the second straight week that oil prices were raised following last week’s announcement, and after a series of price rollbacks for several weeks.

Last week, gasoline price was raised by 25 centavos per liter, diesel by 55 centavos, and kerosene by 35 centavos.

The latest price increase placed gasoline at about P53.20 per liter. Diesel remains at P43 per liter.