Chevron, Seaoil, Phoenix raise fuel prices

Oil giant Chevron Philippines Inc. and independent oil players Seaoil Philippines Inc., and Phoenix Petroleum Corp. on Tuesday raised gasoline prices by P0.50 per liter, saying it was due to higher oil prices in the world market. Chevron and Seaoil also raised the price of kerosene by P0.25 a liter starting 6 a.m. Tuesday. As of this posting, the two other major oil firms, Petron Corp. and Pilipinas Shell Petroleum Corp., have yet to say if they are following suit. Unleaded gasoline is currently priced at P42 to P47 per liter, while kerosene ranges from P42 to P46 per liter. Dubai crude went up to $80 per barrel as of October 18 from $75 in September. Unleaded gasoline imported from the region also went up to $90 per barrel from $83 per barrel last month. Diesel also rose to $94 per barrel from $87 per barrel. — With Andreo Calonzo/VS, GMANews.TV