Petron, Shell raise oil prices

Posted at 08/22/12 10:53 PM

MANILA, Philippines (UPDATE) – Petron Corp. and Pilipinas Shell are raising oil prices anew.

In an advisory to the Department of Energy, Petron said it will implement the following price increases in areas not under a state of calamity effective 6 a.m. August 23:

- P1.20 per liter for Blaze 100, XCS, and Xtra
- P1.30 per liter for Pinoy Gasoline and Regular
- P1.40 per liter for Turbo Diesel and DieselMax
- P1.50 per liter for kerosene and Jet A-1.

Petron said similar price adjustments will be implemented 12:01 a.m. on August 24 in areas under a state of calamity.

The oil company said the oil price hikes "reflect movements in the international oil market."

Shell will likewise adjust its prices effective 6 a.m. August 23.

The following price increases will be implemented:

- P1.20 per liter for unleaded gasoline
- P1.30 per liter for regular gasoline
- P1.40 per liter for diesel
- P1.50 per liter for kerosene