A MAN pumps gas for a customer ahead of a looming oil price hike on today. RAFAEL TABOY After two consecutive rollbacks, local oil firms announced that pump prices will be going the opposite direction today.
The managements of Petron Corporation, Pilipinas Shell, Jetti Petroleum Inc., Flying V, TOTAL, Seaoil, Phoenix Petroleum and PTT Philippines said that a moderate oil price hike is set to take effect at 6 a.m. Tuesday.
Unleaded gasoline is set to increase by PHP0.20/liter, diesel by PHP0.45/liter and kerosene by PHP0.45/liter, the oil firms announced in separate text messages to journalists.
Oil executives explained that these price adjustments reflect movements in the international petroleum market.
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