MANILA, Philippines — Local oil companies are increasing the pump prices of petroleum products effective Tuesday (Dec. 1), partially offsetting the substantial price rollbacks implemented last week.
According to their separate advisories, Pilipinas Shell Petroleum Corp. and Petron Philippines will increase prices of gasoline products by 45 centavos per liter; diesel by 20 centavos a liter; and of kerosene by 10 centavos a liter.
Phoenix Petroleum Philippines, meanwhile, has decided on the same price adjustments for its gasoline and diesel products.
These increases are meant to track the higher prices of refined petroleum products in the international market, according to the companies.
Other oil companies, meanwhile, have not yet announced their respective price adjustments as of this posting, but would likely follow suit with the latest round of oil price hikes.
Last week, oil companies announced reductions in the prices of their respective petroleum products.
Gasoline prices were slashed by 65 to 75 centavos a liter; diesel, by 45 to 50 centavos a liter; and kerosene, by 80 centavos a liter. SFM