Gas prices up by 0.50, LPG by 0.56 per liter

FOR THE third time this month, oil firms hiked prices of gasoline, diesel, and kerosene by 50 centavos a liter and of liquefied petroleum gas by 56 centavos a kilogram. First to raise prices was Chevron Philippines Inc. at 12:01 a.m. on Sunday, followed by refiner Pilipinas Shell Petroleum Corp. at 6 a.m. the same day. Increasing prices on Monday are Seaoil Petroleum Corp. at 12:01 a.m. and Total (Philippines) Corp., Eastern Petroleum Corp. and UniOil Petroleum Philippines Inc. at 6 a.m. As with their recent price hikes, the oil firms cited the escalating prices of oil in the world market as their reason for raising prices. - INQ7.NET