|
CITING
the continuous increase in world oil prices, local oil
companies adjusted over the weekend pump prices of
diesel, gasoline and kerosene by half a peso.
Oil
companies Chevron Philippines Inc., Petron Corp. and
Pilipinas Shell Petroleum Corp. adjusted their
respective pump prices Saturday morning, while Total
(Philippines) Corp. did so Sunday morning.
The
latest 50-centavo per-liter price hike brings the
cumulated increase to P1.50 a liter for this month
alone.
Oil
officials attributed the upward adjustment in domestic
prices to the increase of world oil prices, particularly
Dubai crude which is averaging $96.11 a barrel this
month from $90 a barrel in February.
In
February, oil companies had reduced the price of
liquefied petroleum gas (LPG) by P2.50 a kilo, but
exclusive of the value-added tax (VAT), to reflect the
downtrend in the international contract price of LPG to
$802.50 per metric ton this month from $873.50 per
metric ton in January.
According to the Department of Energy (DOE) monitoring,
the average price of refined gasoline products at the
Mean of Platts Singapore (MOPS) increased to $103.95 a
barrel in February, from $100.51 a barrel in January.
The DOE
noted that the average price of diesel had also showed a
significant increase to $112.27 per barrel in February,
from $107.91 a barrel in January. |
