Oil Companies to increase prices today, Tuesday
Oil companies are going to implement increase in pump prices this week as traders turn to storage in the middle of analyst predictions that the US excess supply
would not last long.
Seaoil together with other oil firms said in different announcements they would hike up gasoline prices by P1.10 per liter, diesel by 60 centavos per liter, and kerosene by 80 centavos per liter.
According to Eastern Petroleum and Phoenix Petroleum, they would enforce the same price hikes for gasoline and diesel. Both oil firms do not sell kerosene.
The adjustments for majority oil firms were to be applied at 12:01 a.m. March 31.
Phoenix Petroleum started the the price increase a little later at 6 a.m.
Meanwhile, Other firms have not made official announcements,however, they are expected to apply the same adjustments.