Oil companies to hike prices

Customers of Pilipinas Shell Petroleum Corp., Total, Petron, and Flying V will have to pay higher for fuel prices this week, following the two companies' announcement of an oil price hike.

Shell will increase both its gasoline and kerosene prices by P0.10 per liter, effective 06 a.m on Tuesday, March 22.

Diesel prices will remain unchanged.

In a separate advisory, Flying V said it will aslo implement the same price hike on its gasoline and kerosene prices effective 12:01 a.m. Tuesday.

Total will adjust its pump prices effective 6a.m., the price of gasoline is up by P0.10 
while diesel price is remain unchanged.

Petron will implement the following price increases (VAT included) effective 6 a.m. on Tuesday: P0.10 per liter for Blaze 100, XCS, Xtra Advance, and Super Xtra, and P0.10 per liter for kerosene. No adjustment for Turbo Diesel and DieselMax.

Petron added that the new prices reflect movements in the  international oil market.

The latest data available from the Department of Energy (DOE) shows that diesel prices range from P21.25 to P24.62 per liter while gasoline prices range from P33.55 to P41.25. —Jon Viktor Cabuenas/KG/RSJ/BAP, GMA News