Oil companies raised prices big time

Photo by GMA News TV

Oil firms on Tuesday raised prices of petroleum products, the highest adjustment for the year so far.

In separate advisories, Petron Corp., Pilipinas Shell, Total Philippines, Phoenix Petroleum and Eastern Petroleum increased gasoline price by P2.40 per liter.

The oil firms, except for Eastern Petroleum, also hiked diesel price by P1.90 per liter. Eastern Petroleum will be raising its diesel by P1.95 per liter.

Oil prices may go up by P2 this week

January 9, 2015

Consumers should brace for an increase in gasoline prices this week, the first hefty price hike for the year as the period of low oil prices is now at risk of coming to an end given uncertainties in the global crude market.