Oil companies raise pump prices

MANILA, Philippines — Local pump prices stopped sliding after global crude oil producers agreed to reduce output by 10 million barrels daily.

Pilipinas Shell, Seaoil Philippines, PTT, Total and Phoenix Petroleum raised prices of diesel by 15 centavos per liter and of gasoline by 55 centavos per liter, effective 6 a.m. on Tuesday.

This is the third time this year that prices of diesel and gasoline went up. Shell and Seaoil, however, cut prices of kerosene by 20 centavos per liter.

—Ronnel W. Domingo