Oil companies hike pump prices anew

Oil companies raised pump prices for the second week as crude producers sought a meeting with shale producers, which have been shoring up global supplies amid efforts to cut crude output.

Starting 6 a.m. on Monday, prices of diesel went up by 30 centavos per liter while those of gasoline rose by 50 centavos per liter.

Companies that announced price changes included Pilipinas Shell, PTT, Flying V, Seaoil, Phoenix Petroleum, Chevron  and Eastern Petroleum.

Shell, Caltex, Flying V and Seaoil also cut prices of kerosene by 80 centavos per liter. —Ronnel W. Domingo