Oil firms hike fuel prices anew

At least three oil firms are hiking their prices anew on Tuesday morning, citing oil price movements in the world market. Petron, Shell and Chevron announced price hikes for gasoline, diesel and kerosene products effective 6 a.m., radio dzBB reported early Tuesday. The price hikes included: - 30 centavos per liter for premium and regular gasoline - 40 centavos per liter for diesel - 45 centavos per liter for kerosene The price hike is the third for the month of May, according to state-run Philippines News Agency (http://www.pna.gov.ph/index.php?idn=&sid=&nid=&rid=528385). Last week, oil companies increased prices of their products by 35 centavos per liter for gasoline and 25 centavos per liter for diesel. The earlier price hike was also due to changes in the world prices of oil. — DVM, GMA News