Shell, Seaoil hold off pump price increases

Posted at 08/09/2012 3:22 PM | Updated as of 08/09/2012 6:53 PM

MANILA, Philippines - Shell and Seaoil on Thursday said they will not implement an oil price hike next week in areas affected by the recent flooding.  This despite an increase in the prices in the world market.

"The move will, hopefully, help alleviate the current predicament many of our countrymen find themselves in where they have to manage the impact of the floods and rains," Roberto Kanapi, Pilipinas Shell Vice-President for Communications and Government Relations, said.

Shell said it is freezing the prices of oil products in the following areas next week:
1. National Capital Region
2. Rizal
3. Pampanga
4. Bataan
5. Zambales
6. Sta. Cruz, Laguna
7. Pagsanjan, Laguna
8. Bacoor, Cavite
9. Kawit, Cavite
10. Rosario, Cavite
11. Bulacan

Seaoil, likewise, said it will keep prices at the current levels until next week.

The price freeze will be in effect in Seaoil stations in Metro Manila, Rizal, Pampanga, Bataan, Zambales, Laguna, Bulacan and Cavite.

Based on estimates in the first 3 days of the week, gasoline prices are supposed to go up by P1.50 - P1.60 per liter increase, while diesel prices should go up P1.25 per liter next week.

Torrential rains in the last few days triggered heavy flooding in Metro Manila and nearby provinces. An estimated two million people were affected by the floods. - Report from Alvin Elchico, ABS-CBN News