Shell, Eastern hike fuel prices

Shell increased the prices of its gasoline by 30 centavos a liter and diesel and kerosene by 90 centavos a liter while independent player Eastern Petroleum raised its prices of diesel and kerosene by 85 centavos a liter and of gasoline by 45 centavos a liter effective Tuesday.

The latest price adjustment reflects increases in global oil prices last week, breaking the successive price reductions seen in early May.

Prior to Tuesday’s oil price hike, diesel prices ranged from P42.60 to P44.60 a liter while gasoline retailed at P51.25 to as high as P57.52 a liter. As of May 31, the net increase in gasoline prices has reached P5.67 a liter and P5.30 a liter for diesel products.

The other oil companies have yet to announce their respective price adjustments.