Oil firms raise fuel prices

MANILA, Philippines - Oil firms have raised the prices of gasoline, kerosene and liquefied petroleum gas (LPG).

The Department of Energy (DOE) said Pilipinas Shell Petroleum Corp. and Chevron Philippines announced a 25-centavo per liter increase in the price of gasoline and 10 centavos per liter for kerosene effective at 6 a.m. today.

There will be no adjustments on diesel products, the DOE said.

In a separate advisory, Seaoil Philippines Inc. said it adjusted its pump prices at 6 a.m. yesterday to reflect movements in the international petroleum market.

Seaoil hiked gasoline and kerosene products by 25 centavos per liter and 10 centavos per liter, respectively.

Independent oil firm Phoenix Petroleum Philippines Corp. said it increased gasoline prices by 25 centavos per liter starting at 6 a.m. yesterday.

The firm said the adjustment is to reflect the price movement of refined petroleum products in the world oil market.

The other oil companies have yet to make announcements on their respective price adjustments.

The DOE said LPG retailers have also raised prices.

Prices of Solane, Gasul and Petronas LPG products were increased by P2.95 per kilogram effective Nov. 2.

The price of Liquigaz was hiked by P2.50 per kilogram effective 12:01 today while Eastern Petroleum’s EC Gas was raised by P2.90 per kilogram starting at 6 a.m.