Oil Firms To Hike Gas Prices By 10c/Ltr Tuesday

Oil firms will hike gas prices by 10 centavos per liter Tuesday.

Pilipinas Shell Petroleum Corp., Petron Corp., Seaoil Philippines Inc., PTT Philippines Corp. and Eastern Petroleum Corp. said in separate advisories Monday that they would enforce the price hike stating at 6 a.m. Tuesday.

According to the Energy Department’s oil monitor for Metro Manila dated March 15, gasoline presently has a price range of Php 33.55-41.25 per liter and with a common price of Php 38.50 per liter.

The diesel prices, on the other hand, will remain unchanged at its price range of Php 21.25-24.62 per liter and a prevailing price of Php 23 per liter.

Shell, Petron and Seaoil will also increase its kerosene prices by 10 centavos per liter.

The firms noted the price changes reflect movements in the international crude market.

CNBC reported the average prices for gas last week went up due to the weakening of the U.S. Dollar.

The price changes are derived from the average trading of the previous week. (PNA) RMA/JLD