(UPDATE2) Oil firms announce hikes in pump prices
Four oil firms on Monday announced increases in the pump prices of their respective petroleum products effective Tuesday.
Pilipinas Shell Petroleum Corporation said it is set to implement Tuesday 12:01 a.m. a P1.50 per liter increase in the prices of its gasoline products. It also said that its diesel and kerosene prices will also increase by P0.50 per liter at the same time
Total, in a text message, said that effective 6 a.m. Tuesday, the pump price of its gasoline products will increase by P1.50 per liter while prices of its diesel and kerosene products will increase by P0.50 per liter.
Pilipinas Shell and Total said the hikes were made to “reflect increased product cost.”
Chevron (formerly Caltex) meanwhile said it will also implement its price hikes 6 a.m. Tuesday. Set to increase are pump prices of Gold, Silver, Silver E10 and regular by P1.50 per liter. The prices of its diesel, kerosene and fuel oil products are set to increase by P0.50 per liter.
Eastern Petroleum, meanwhile, said that its pump price for gasoline will also increase but at a lower P1.00 per liter effective 6 a.m. Tuesday. At the same time, the company said, the price of its diesel products will increase P0.50 per liter.