Oil firms to hike pump prices Tuesday

MANILA — Oil players announced on Monday that they will increase pump prices effective 6:00 a.m. on Tuesday.

Pilipinas Shell Petroleum Corp., Seaoil Philippines Inc., PTT Philippines, Phoenix Petroleum Philippines, Flying V, Unioil Petroleum Philippines will hike gasoline prices by PHP0.55 per liter and diesel by PHP0.70 per liter.

Prices of kerosene will also increase by PHP0.60 per liter for Shell, Seaoil, and Flying V.

According to the Department of Energy, as of Aug. 9, average retail price of diesel was at PHP25.15 per liter while PHP38.25 per liter for gasoline. PNA/northboundasia.com