Petron to hike pump prices, slash LPG rates Wednesday

MANILA, Philippines – After Pilipinas Shell announced Tuesday it would adjust its oil prices early Wednesday, major player Petron Corp. also said it would also implement price increases and reductions on its products. In a text message to reporters, Petron public affairs officers Rafael Ledesma said that the oil firm would hike its diesel prices by P1.50 per liter and gasoline and kerosene prices by P1 per liter. It will also reduce its liquefied petroleum gas (LPG) prices by P2 per kilogram. Like Shell, Petron’s price adjustments will take effect 12:01 a.m. Wednesday. As of this posting, other oil firms have yet to announce whether they will match Shell and Petron’s move. - Sophia Dedace, GMANews.TV