Seaoil follows latest pump price hikes
abs-cbnNEWS.com | 04/04/2009 2:50 PM
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Seaoil announced Saturday it will increase the prices of its diesel, kerosene and gasoline products by Sunday.
The oil company said it will increase by P1.00 per liter its diesel and kerosene products at 12:01 a.m. Sunday. It will also increase the price of its gasoline by P0.50 per liter.
Seaoil's announcement came after five oil companies -- Flying V, Pilipinas Shell, Eastern Petroleum, Chevron Philippines and Total Petroleum -- increased adjust the prices of their kerosene, diesel and gasoline products.
The five oil companies hiked the prices of diesel and kerosene by P1.00 per liter and gasoline by P0.50 per liter Saturday morning.
Flying V President Ramon Villavicencio said the current imported diesel price of $60 per barrel would need a total adjustment of P2 per liter.
Zenaida Monsada, director of the energy department's Oil Management Bureau, said the increases are justified.
