Oil firms raise pump prices today
Oil companies implemented today another round of hefty fuel price hikes, reflecting the continued uptrend in the international petroleum market.
Firms implemented increases of P0.90 per liter on gasoline, P1 per liter on diesel and P1 per liter on kerosene.
Flying V, Phoenix Petroleum Philippines Inc., Pilipinas Shell Petroleum Corp. and PTT Philippines Corp. implemented their respective price adjustments at 6 a.m.
Petron Corp., Seaoil Philippines Inc., Total Philippines Corp. and UniOil Petroleum Philippines Inc. have yet to announce their respective advisories as of press time.
Strong compliance of the Organization of the Petroleum Exporting Countries (OPEC) and other oil producing countries with supply caps supported oil prices. Meanwhile, liquefied petroleum gas (LPG) prices were also raised this month.
Petron said it raised LPG prices by P0.25 per kilogram and AutoLPG by P0.15 per liter.
“These reflect movements in the international contract prices of LPG for the month of April,” it said.
On the other hand, Eastern Petroleum will not adjust the price of its EC Gas LPG for the second consecutive month. It said it would absorb the adjustment in the international contract price of LPG.
“To date, the net reduction in EC Gas LPG amounts to P4.45 per kilogram,” the firm said.