Oil players hike fuel prices

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Tuesday, June 25, 2013

MANILA -- Oil companies implemented another round of increases on their petroleum products Tuesday, the seventh consecutive week of fuel price hike.

At 6 a.m. the so-called "Big Three" of the local oil industry – Pilipinas Shell, Petron Corporation, and Chevron Philippines – raised their respective prices of gasoline by P0.45 per liter and diesel by P0.90 per liter.

Independent players Phoenix Petroleum, Seaoil and Total also followed suit with similar price hike.

The increases were a result of the weakening peso and the movements in the prices of refined petroleum products in the International market. (Sunnex)

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FOREX: US$ 1.00 = PhP 44.420

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