Oil firms hike gas, diesel prices on Feb. 12

Posted at 02/12/13 7:52 AM

MANILA, Philippines - The big three oil firms have increased pump prices effective 6 a.m. on Tuesday.

Pilipinas Shell Petroleum Corp., Chevron Philippines Inc. (formerly Caltex), and Petron Corp. hiked prices of their premium gas, kerosene and diesel by P1.20 per liter.

Prices of the firms' regular gas, meanwhile, were raised by P1.10 per liter.

The trend is in line with higher fuel prices in the international market as improving conditions in the US and in Europe increased the demand for the commodity.

In the last two weeks, gasoline prices in the Philippines have already risen by P1.95 per liter, while diesel prices went up by P0.60 per liter.