• Oil firms hike pump prices

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    Oil companies will implement a hike in petroleum prices effective Tuesday.

    In an advisory, Pilipinas Shell Petroleum, Phoenix Petroleum Philippines and Flying V announced they would increase the prices of gasoline and diesel by P0.50 and P0.25 per liter, respectively.

    Shell and Flying V said there would be no movement in kerosene prices.

    Other oil companies like Petron, Caltex, Total and Eastern Petroleum were also expected to adjust their pump prices.

    Pilipinas Shell, Phoenix, PTT Philippines, Unioil and Seaoil said they would implement the price changes at 6 a.m. on Tuesday. Flying V said its price adjustments would take effect at 12:01 a.m.

    Department of Energy monitoring for Metro Manila as of December 13 showed that diesel prices ranged from P27.55 to P32.25 per liter with a common price of P29.35 per liter; gasoline from P36 to P47 with a common price of P45.08 per liter; and liquefied petroleum gas in P11-kilogram cylinders from P425 to P656.

    The price movements this week brought year-to-date adjustments in gasoline to P7.94 per liter and diesel to P9.53 per liter.

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

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