Oil prices hiked anew

(Updated 2:55 a.m.) Pilipinas Shell, Phoenix Petroleum Inc. and Petron are hiking their oil prices by as much as P1.00 per liter effective early Tuesday morning. According to dzBB and GMA News reports, Shell announced that it is increasing the prices of gasoline by P1 per liter, and diesel and kerosene by P0.50 per liter, effective 12:01 a.m. Tuesday. Phoenix Petroleum and Petron are also set to impose the same price adjustments by 6 a.m. Tuesday, the radio report said.
For the latest Philippine news stories and videos, visit GMANews.TV Shell and Phoenix cited “increases in the international market" as the reason for the price hikes. The other oil firms have not made price hike announcements so far, as of posting time. - Jerrie M. Abella/JV, GMANews.TV