Oil companies hike prices of fuel products anew

As if the heavy rain and floods were not enough, motorists and commuters were hit with another whammy Tuesday as oil firms raised prices of some fuel products. Petron raised prices of its gasoline, diesel and kerosene products, citing movements in the international oil market effective 6 a.m. "This is to reflect movements in the international oil market," it said. It said it hiked prices of gas by 80 centavos per liter; diesel by 40 centavos per liter; and kerosene by 30 centavos per liter. Shell implemented a similar price adjustment also at 6 a.m. Tuesday, radio dzBB reported. Meanwhile, monitoring group Petrol Price said on its Twitter account Total also increased prices of its products starting 6 a.m. It said these included an 80-centavo-per-liter hike in premium, unleaded and regular gas, and a 40-centavo-per-liter hike in diesel. Tuesday marked the fifth week that oil firms increased prices of their products since July. Since early July, oil firms had implemented price hikes, ending 12 weeks of rolling back prices of their products. The rollbacks since April had been enough to prompt a rollback as well in passenger jeep fares, from P8 to P7.50. — CGL/KG, GMA News