PH oil firms raise prices to pass on global hike

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AFTER a series of price rollbacks in October, oil firms on Tuesday opened November with a rate hike.

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The recent price adjustments reflect the movement in prices of refined petroleum products in the international market, they said.

Big players Pilipinas Shell Corp., Petron Corp. and Chevron (Caltex), as well as independent companies PTT Philippines, Eastern Petroleum, Phoenix Petroleum, and Seaoil, adjusted their prices effective 6 a.m. on November 4.

Petron, Chevron (Caltex), Shell, Seaoil, Phoenix and PTT uniformly increased diesel prices by 25 centavos per liter and 20 centavos per liter for gasoline.

Eastern Petroleum raised diesel and gasoline prices by 20 centavos per liter.

Except for PTT, Eastern Petroleum and Phoenix, the other oil companies increased kerosene prices by 30 centavos per liter.

Meanwhile, Eastern Petroleum said it reduced prices of its liquefied petroleum gas brand EC Gas by 60 centavos per 11-kilo cylinder.

In October, oil firms cut the prices of their products for four consecutive weeks for a total of P3.15 per liter for diesel.

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