Fuel firms raise prices again after 'moratorium'

One week after observing a moratorium of sorts on fuel price hikes, major oil firms raised prices of their products anew Tuesday.

 

The so-called Big Three—Shell, Petron and Chevron—effected price hikes on various fuel products effective Tuesday morning, radio dzBB reported.

 

Shell raised its prices effective 12:01 a.m., raising prices of unleaded and premium gas by 70 centavos per liter and diesel, kerosene and regular gas by 60 centavos per liter.

 

Petron, Total and Chevron followed suit at 6 a.m., similarly raising prices of their products, the report added.

 

Chevron and Petron raised prices of premium gas by 70 centavos per liter, and diesel by 60 centavos per liter.

 

The report said the price hikes came after the Department of Energy warned prices of fuel products may go up this week due to higher prices of oil in the world market.

 

The fuel firms did not raise prices of their products for a week as militants staged a "nationwide protest" against fuel price hikes.

 

Last week, the Department of Energy had "appealed" to oil companies not to raise their prices because the price adjustment was negligible at the time. –KG, GMA News