The country’s oil firms raised pump prices by as much as P0.25 per liter for gasoline and P0.10 per liter for kerosene starting Tuesday after a price reduction of P1 per liter last week.
The oil firms also raised liquefied petroleum gas prices by P2.95 per kilo and autogas by P1.65 per liter to reflect the increase in contract price of LPG in the world market.
“Petron will increase LPG prices by P2.95 per kg [VAT inclusive] effective 6 a.m. November 2. We will likewise increase auto LPG by P1.65 per liter. These reflect the international contract prices for LPG for the month of November,” Petron said in its advisory.
According to the Energy Department, other LPG distributors also raised prices namely Solane; Gasul; and Petronas by P2.95 per kg and Liquigaz by P2.50 per kilo. Eastern Petroleum also raised LPG prices by P2.90 per kilo.
Among the oil firms that announced the oil price increase for gasoline and kerosene products are Pilipinas Shell Petroleum Corp., Phoenix Petroleum, Chevron Philippines, Seaoil Philippines, among others. The other oil companies are expected to follow suit.
The oil companies, however did not raise diesel prices.
“Phoenix Petroleum Philippines will increase the price of gasoline only by P0.25 per liter effective 6 a.m. of November 3 to reflect the price movement of refined petroleum products in the world market,” it said.
Last week, the oil firms cut pump prices anew by as much as P1 per liter to reflect the softening of world oil prices in the market.