After a succession of price rollbacks, oil companies have once again geared up to increase the prices of various oil products to make it more reflective of the international oil market conditions.
Effective 6 a.m. of Nov. 20, 2012, Petron and Seaoil raised the prices of premium and unleaded gasoline by P0.15/liter. Regular gasoline prices were raised by P0.70/liter, while kerosene prices increased by P0.25/liter. Shell, Chevron and Total have likewise hiked up their prices by the same amounts.
Eastern Petroleum intended to follow suit with a P1.25/liter increase on premium and unleaded gasoline and P0.45/liter increase on regular gas and kerosene.
These price hikes are attributed to the ongoing clash between Israel and Hamas which may cause a possible disruption on oil supplies, the Manila Times reported.
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