Oil firms hike pump prices

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OIL firms will increase prices of petroleum products on Tuesday.

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In separate advisories, Seaoil, Phoenix Petroleum Philippines, Flying V, PTT Philippines and Eastern Petroleum said they will hike gasoline prices by P1.50 per liter and diesel by P1 per liter.

Seaoil’s kerosene will also go up by P1.05 per liter.

Flying V implemented the price hike at 12:01 a.m. Monday. The other firms except Phoenix will adjust their pump rates at 12:01 a.m. Tuesday.

Phoenix said it will implement the price adjustment at 6 a.m.

As of press time, the so-called big oil companies—Shell, Petron and Chevron—have yet to announce if they will also their prices.

The latest hike was due to movements in the prices of refined petroleum products in the international market.

Last week, oil firms lowered prices of gasoline by 20 centavos per liter.

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