MANILA -- As the country reels from the destruction of typhoon Juan (international codename: Megi), an oil company will impose a new round of oil price increase.

Independent oil player Phoenix Petroleum said it will jack up prices of gasoline by P0.50 starting 12:01 a.m. Wednesday.

This is to reflect the upward trend of oil prices in the international market, the company said. (Virgil Lopez/Sunnex)