MOTORISTS should expect a price hike in fuel products today as some oil companies announced increases yesterday after two straight weeks of rollbacks.
Petron Corp., Seaoil Philippines Corp. and Shell Pilipinas Corp. announced that they will increase prices per liter of gasoline by P0.70.
On the other hand, the price of diesel will go up by P1.40 per liter while kerosene will also increase by P0.80 per liter.
Cleanfuel and Petro Gazz Ventures Philippines Corp. will implement the same changes, excluding kerosene which they do not carry.
The adjustments will take effect at 6 a.m. today for all the firms except for Cleanfuel which will hike prices at 4:01 p.m. the same day.
The increase in oil prices was due to the movement of its prices in the global market, the report said.
Retailers earlier projected a price hike for this week, citing strong demand and forecasts of less US oil production.
Firms last week rolled back prices per liter of gasoline by P0.70, diesel by P0.10, and kerosene by P0.80. (GMA Integrated News)
