• Oil firms to raise pump prices

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    Prices of petroleum products, including liquefied petroleum gas (LPG), are set to increase on Tuesday.

    In separate advisories, oil companies said gasoline prices will be raised by 25 centavos per liter and kerosene by 10 centavos per liter.

    There will be no movement in prices of diesel.

    Pilipinas Shell, Phoenix Petroleum and Chevron said the increase will take effect at 6 a.m. on Tuesday.

    Other companies usually implement the price adjustments at 12:01 a.m. also on Tuesday.

    Solane, Gasul and Petronas increased prices of their LPG products by P2.95 per kilogram, effective 6 a.m. on Monday, or an increase of P32.95 for an 11-kilogram LPG cylinder.

    Liquigaz will have also raised LPG prices by P2.50 per kilogram effective 12:01 a.m. on
    Tuesday and Eastern Petroleum by P2.90 per kilogram effective 6 a.m. on Tuesday.

    The price adjustments were primarily driven by movement in world oil prices.

    Oil companies last week reduced gasoline prices by P1 per liter and diesel by 35 to 40 centavos per liter.

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