Oil firms hike diesel prices, slash gas pump prices Tuesday

By Amy R. Remo

Philippine Daily Inquirer

5:34 am | Tuesday, April 9th, 2013

MANILA, Philippines—Local oil companies are implementing new price adjustments on Tuesday to reflect movements of prices in the international market.

Petron Corp., Chevron Philippines, Seaoil Philippines, Eastern Petroleum and Phoenix Petroleum Philippines have hiked prices of diesel by 25 centavos per liter and of kerosene by 30 centavos a liter. At the same time, these oil firms have also slashed prices of all gasoline products (premium and regular) by 45 centavos a liter.

Prior to this week’s oil price adjustments, diesel prices ranged from P38.25 to P41.19 a liter while gasoline products retailed for P48.65 to P54.64 a liter.

As of April 2, the year-to-date net increase in gasoline prices stood at 60 centavos a liter while net decrease for diesel prices stood at 95 centavos a liter.

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Tags: Business , Chevron Philippines , Eastern Petroleum , oil and gas , oil price hikes , oil price rollback , petroleum products , Petron Corp. , Phoenix Petroleum Philippines , Seaoil Philippines

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