Shell, Petron hike gasoline prices

MANILA, Philippines - Oil companies on Tuesday hiked the prices of gasoline and rolled back the prices of kerosene.

Shell and Petron increased the prices of their gasoline products by 50 centavos per liter. The two oil giants also slashed the prices of their kerosene products by 15 centavos per liter.

Seaoil Philippines, meanwhile, announced that it will also increase the price of its gasoline product by 50 centavos per liter and roll back the price of its kerosene by 15 centavos per liter at 12:01 a.m. Wednesday.

Seaoil said that the latest price adjustments reflect the price movements in the world market.