Saturday, March 15, 2008
Oil firms post P.50 hike on pump prices (4:29 p.m.)
AS PRICES of crude in the international market continue to surge, oil companies on Saturday announced that it is raising by P0.50 per liter their petroleum products.
Petron Corporation, the country’s largest oil manufacturer said the increase will cover gasoline, diesel, and kerosene effective 6 a.m. Saturday.
According to Petron, price of Dubai crude per barrel already reach an all time high of US$100.17 which is US$6 higher than the prices of crude last month, which was placed at US$96.11 per barrel.
Pilipinas Shell, on Friday was the first to announce a similar price hike in the pump prices of their petroleum products.
On the other hand, independent oil player Total Philippines said it is also set to raise its petroleum products by 50 centavos per liter effective 6 a.m. Sunday.
Other oil firms are expected to implement this weekend the same price increase in their gasoline, kerosene, and diesel. (MSN/Sunnex) |
