Chevron to hike pump prices Tuesday noon

Following the announcements of its two major competitors, oil giant Chevron Philippines (formerly Caltex) on Tuesday likewise said it was hiking the prices of its petroleum products. Chevron spokesman Toby Nebrida said the price adjustment will take effect Tuesday noon and covers gasoline, kerosene, and diesel products. Prices of Chevron's Gold, Silver, E10 and regular gasoline will all go up by P1.25 per liter. Meanwhile, prices of diesel and kerosene will respectively increase by P2 and P1.50 per liter. Earlier in the day, fellow "Big Three" oil firms Pilipinas Shell and Petron Corp hiked their pump fuel prices. Shell's price hike, which took effect 12:01 a.m. Tuesday, covered gasoline (up by P0.85 per liter), diesel (P2/liter), and kerosene (P1.50/liter). Petron's unleaded premium gasoline increased by P1.25 per liter, regular gasoline by P0.85 per liter, diesel by P2 per liter, and kerosene by P1.50 per liter. Petron's hike was implemented at 6 a.m. Tuesday. - Mark Merueñas, GMANews.TV