Oil firms announce new round of increases

April 27 2015 5:27 PM

A new wave of increase in pump prices will greet motorists on Tuesday, April 28, the second in a week.

At least four oil firms announced on Monday, April 27, adjustments in the prices of their products by as much as P.70 per liter.

Independent players Seaoil, Eastern Petroleum, Phoenix Petroleum, and PTT Philippines said they would increase gasoline prices by P.70 per liter, while diesel would be higher by P.30.
Seaoil will also raise kerosene products by P.40 per liter.

The oil firms except Phoenix will implement the adjustment by 12:01 a.m., while Phoenix will have it at 6:01 a.m. of Tuesday.

Phoenix Petroleum said the increase “reflected the movement in the prices of refined petroleum products in the international market.”

It can be recalled that oil companies a week ago increased their prices by as much as a peso per liter.