Small oil players hike pump prices

MANILA, Philippines - It’s the turn of small petroleum players to raise pump prices today, after similar price hikes implemented yesterday by the so-called Big-3.

Seaoil Philippines and Phoenix Petroleum raised their pump prices, effective today, by 50 centavos per liter for gasoline and 75 centavos for diesel.

Pilipinas Shell, Petron Corp., Chervon Philippines, and Total Philippines announced similar price hikes yesterday.

Petron and Shell, meanwhile, raised the prices of their liquefied petroleum gas (LPG) or cooking gas by P1.50 per kilo for an 11-kg cylinder.

This was in response to the move of the LPG Marketers Association of the Philippines to allow an adjustment in LPG prices.

Petroleum players used the reported rise in international prices to justify their price adjustments.

Before the price increase or as of May 26, an 11-kg tank of LPG sold for P412 to P505.

Gasoline prices ranged from P33.50 to P40.97 and diesel from P24.75 to P31.24 before May 26. – Donnabelle Gatdula