Oil players hike prices by 70c/liter

Oil distributors PTT Philippines, Petro Gazz Philippines and Pilipinas Shell will raise pump prices by P0.70 per liter of gasoline and diesel effective at 6 am today, Tuesday, to reflect the movement of oil prices in the world market.

“Petro Gazz will implement price a hike on fuel products effective 6 am Tuesday, diesel by P0.70 and gasoline by P0.70 per liter,” the company said.

The other oil firms were expected to follow suit.

This week’s price increase will be the second consecutive weekly increase as the oil companies implement the latest adjustments in oil prices every Tuesday.

Unioil Philippines forecast over the weekend that diesel should go up by P0.50 to  P0.60 per liter and gasoline by P0.40 to P0.50 per liter.

On Feb. 12, the oil firms raised pump prices by P0.90 per liter of gasoline, P0.85 per liter of kerosene and P0.55 per liter of diesel.

On Feb. 4 and 5, the oil companies cut pump prices by P0.60 per liter of gasoline, P0.35 per liter of diesel and P0.20 per liter of kerosene

READ: Oil price hike set at P0.60/liter on 2nd round

Topics: PTT Philippines , Petro Gazz Philippines , Pilipinas Shell , World Market , Gasoline , Unioil Philippines
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