Oil firms raise fuel prices today
MANILA, Philippines — Oil companies raised the prices of gasoline, diesel and kerosene effective today due to price movements in the international petroleum market.
In separate advisories, Philippine oil companies announced that gasoline prices were increased by P0.90 per liter, diesel by P0.55 per liter and kerosene by P0.75.
Pilipinas Shell Petroleum Corp., Phoenix Petroleum Philippine Inc., Chevron Philippines Inc. (Caltex), Eastern Petroleum Corp. and PTT Philippines Corp. implemented the price hikes starting 6 a.m. today.
Flying V’s price adjustments started earlier at 12:01 a.m.
In a text update, SeaOil Philippines Inc. said it implemented the price changes at 6 a.m.
Petron Corp., Total Philippines Corp. and UniOil Petroleum Philippines Inc. have yet to release their advisories as of press time.
“Oil prices edged up, steadying near two-year highs as the outlook remained upbeat as OPEC-led supply cuts have tightened the market and drained inventories,” Department of Energy-Oil Industry Management Bureau director Rino Abad said, referring to the Organization of Petroleum Exporting Countries.
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