• Another oil price hike set

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    In separate advisories on Monday, Pilipinas Shell Petroleum, Eastern Petroleum, Phoenix Petroleum, PTT Philippines, Seaoil and Flying V said they will raise gasoline prices by 45 centavos per liter and diesel prices by 60 centavos per liter.

    Shell, Seaoil and Flying V will increase kerosene prices by 55 centavos per liter.

    Pilipinas Shell Petroleum, Eastern Petroleum, Phoenix Petroleum, PTT Philippines and Seaoil said they will implement the price changes at 6 a.m. on Tuesday.

    Flying V said its price adjustments will take effect at 12:01 a.m., also on Tuesday.

    Department of Energy (DOE) oil monitoring for Metro Manila as of October 11 showed that diesel prices ranged from P26.80 to P30.15 with a common price of P28.70; gasoline from P34.95 to P44.65 with a common price of P42.35; and LPG (liquefied petroleum gas) in P11-kilogram cylinder from P427 to P632.

    The DOE monitoring also showed that gasoline had a net increase of P4.59 per liter for the year and diesel had a net hike of P7.03 per liter.

    The latest price changes resulted from average price movements for the previous five trading days in the global markets.

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