• Oil companies again increase prices

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    FOUR oil companies on Tuesday implemented price increases, the second time this month.

    Pilipinas Shell, Petron, Total Philippines and Seaoil hiked the price of gasoline products by 50 centavos per liter, according to their respective advisories late Monday night.

    However, the same firms slashed the price of kerosene by 15 centavos per liter. There was no change in the price of diesel.

    The price adjustments, which “reflect movements in the international oil market”, took effect after midnight on Monday.

    Others companies have yet to announce their respective adjustments.

    Reports said the average price of diesel as of June 4 is P39.95 per liter while gasoline is P50.10 per liter.

    Last June 4, gasoline products increased by 70 centavos per liter and 40 centavos per liter on both kerosene and diesel.

    Ruben D. Manahan 4th

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