Seaoil to hike gasoline prices by P1.50/liter
abs-cbnNEWS.com | 05/26/2009 4:21 PM
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Small oil player Seaoil Philippines announced Tuesday it will raise prices of its petroleum products following price hikes implemented by three oil firms earlier this week.
The company said it will increase prices of gasoline by P1.50 per liter effective 12:01 a.m. on Wednesday, May 27. Last week, Seaoil jacked up gasoline prices by P1.50 per liter, and diesel and kerosene by P0.50 per liter.
At 6 a.m. today, Total Philippines implemented a P1 per liter hike in gasoline prices "to reflect increased production cost."
Total followed Flying V's increase of P1.50 per liter last Monday.
On Friday last week, oil prices reached $61.54 a barrel in Asian trade on signs of rising energy demand in the United States, a key growth engine for the world economy.
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