Shell, Unioil to raise fuel prices early Saturday

MANILA, Philippines - Pilipinas Shell and Unioil will increase fuel prices early Saturday, radio DZBB reported late Friday night. The P0.50 increase in the prices of gasoline, diesel and kerosene will take effect at 12:01 a.m., according to the report. Shell’s price hike was confirmed by the firm’s spokesman Robert Kanapi, the report added. Industry participants, especially small independent retailers, pointed to the high costs of fuel in the world market. The adjustment in prices will bring the total increase to P3.50 since end-February. With the new rates, gasoline prices will average at P46.46 and diesel at P39.44. Independent retailers import finished products from Singapore. - GMANews.TV