Oil companies raise fuel prices

Posted at 07/09/12 8:59 PM

MANILA, Philippines (1st UPDATE) - Several oil companies have announced prices increases in their fuel products effective Tuesday.

In an advisory to the Department of Energy, Shell and Chevron said starting 6 a.m. Tuesday, their premium gasoline will rise by P1.55 per liter.

Their diesel and kerosene will go up by P1.40 per liter while regular gasoline will rise by P1.80 per liter.

Total is also announcing similar price increases by 6 a.m. Tueday.

Its unleaded gasoline and Protec gasoline will go up by P1.55 per liter, its regular gasoline will rise P1.80 per liter, while its diesel pump price will increase by P1.40 per liter.

Flying V, meanwhile, will implement price hikes effective 12:01 a.m. Tuesday.

Its fuel prices will go up as follows: P1.55 per liter hike in unleaded and premium gasoline; P1.80 per liter hike in regular gasoline; P1.40 per liter rise biodiesel and kerosene.

According to the Department of Energy, the price hike caused by issues in Iran and Norway. - reports from Alvin Elchico, ABS-CBN News