Oil firms to hike prices

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OIL companies are set to implement another round of oil price hikes on Tuesday.

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In separate advisories, Petron Corp. and PTT Philippines said they will increase diesel prices by 75 centavos per liter and gasoline prices by 35 centavos per liter.

Seaoil will raise gasoline prices by 25 centavos per liter and diesel by 80 centavos per liter.

Petron and Seaoil will also jack up their kerosene prices by 80 centavos per liter.

They will implement the price adjustment at 6 a.m. on Tuesday.

Other oil firms are expected to follow suit.

The recent oil price increase resulted from movements of crude oil in the international oil market.

Oil companies last week also hiked gasoline prices by 25 centavos per liter and kerosene prices by 10 centavos per liter.

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