Pilipinas Shell and Phoenix Petroleum Inc. are hiking their oil prices by as much as P1.00 per liter effective early Tuesday morning.
According to a dzBB radio report, Shell announced that it is increasing the prices of gasoline by P1 per liter, and diesel and kerosene by P0.50 per liter, effective 12:01 a.m. Tuesday.
Phoenix Petroleum is also set to impose the same price adjustments by 6 a.m. Tuesday, the radio report said.
The two oil companies cited “increases in the international market" as the reason for the price hikes. - Jerrie M. Abella/JV, GMANews.TV
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