Another oil price increase looms


Oil companies will raise fuel prices this week.

In an advisory, Pilipinas Shell on Monday said it would increase its gasoline price by 10 centavos per liter.

Other oil firms such as Petron Corp., Chevron, Phoenix Petroleum Philippines, PTT Philippines, Total, Flying V, Eastern Petroleum and SeaOil are expected to follow suit.
Oil firms usually impose price adjustments between 12:01 and 6 a.m. Tuesdays.

Movement of crude prices in the world market was behind the planned price adjustments.
Last week, oil companies raised the price of gasoline by P1.75 per liter, diesel by P1.95 per liter and kerosene by P1.85 per liter.


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