Fuel prices up today

MANILA, Philippines - Oil companies will raise fuel prices today following volatile trading in the international oil market last week.

In an advisory, Pilipinas Shell Petroleum Corp. said it would increase gasoline prices by 65 centavos per liter, diesel by 40 centavos and kerosene by 35 centavos starting at 6 a.m.

SeaOil Philippines Inc. also made similar price adjustments for its fuel products.

While Flying V made similar price increases for diesel and kerosene, the oil firm will raise gasoline prices by 75 centavos.

Petron Corp. is expected to make similar price adjustments across fuel products.

In separate advisories, Phoenix Petroleum Philippines, PTT Philippines and Eastern Petroleum said they would increase gasoline and diesel prices by 65 centavos per liter and 40 centavos, respectively.

Last week, the international crude market saw volatile trading following Britain’s exit from the European Union.

“Pricing is based on a one week average. In the first four days of trading, oil prices rose steeply from the previous week,” Energy Secretary Zenaida Monsada said.