• Oil firms impose hefty price hike

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    Oil companies will implement another hefty price increase starting on Tuesday.

    In separate advisories, Petron Corp. and Total Philippines said they will increase diesel price by P1.50 per liter effective 6 a.m. today. The price of gasoline will go up by P1.15 per liter.

    There is no movement in the price of kerosene.

    Other oil companies such as Chevron, Pilipinas Shell, Phoenix Petroleum,PTT Philippines and Eastern Petroleum are expected to follow suit.

    The oil firms said the price adjustment reflects movements in the international oil market.

    This is the second big-time price increase this month.

    Last week, oil companies jacked up the cost of gasoline by P2.40 per liter; diesel by P1.95 per liter and kerosene by P2.15 per liter.

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