Oil firms raise product prices early Tuesday

Motorists and consumers were hit with a whammy early Tuesday as oil firms raised the prices of several of their products. Among the companies that raised their prices were Shell and Flying V, which are to raise prices effective 6 a.m., radio dzBB reported. Shell spokesman Bobby Kanapi said the price hike was due to movements in the world prices of oil. The report said the price increases included: - 35 centavos per liter for diesel - 45 centavos per liter for kerosene - 90 centavos per liter for unleaded and premium gas - 95 centavos per liter for regular gas Last weekend, dzBB cited sources in the oil industry who said prices could go up as high as P1 per liter. — DVM, GMA News