Following the price increase implemented Saturday by major oil companies, Total announced an increase in the prices of its gasoline and liquefied petroleum gas (LPG) products effective Sunday 1 a.m., DZMM reported. Total will raise its gasoline price at the pump by P0.50 per liter and liquified petroleum gas (LPG) by P0.50 per kilogram. The oil firm said the price of its autoLPG will also go up by P0.30 per liter. Pilipinas Shell Petroleum Corp. increased its gasoline pump prices by P0.50 per liter effective 12:01 a.m. Saturday while Chevron (Caltex), Petron, PTT and Rephil implemented a similar price increase at 6 a.m. Saturday. City Oil increased its prices effective Saturday noon and Flying V followed suit at 2 p.m. The two companies increased the pump prices of gasoline by P0.50 per liter. Effective Thursday midnight, LPG dealers imposed a price increase of P1.50 per kilogram on cooking gas. The LPG Marketers Association attributed the latest price adjustment to the increasing contract rates in the world market. Market estimates showed that the international contract price of LPG for the month of June soared by $25 per metric ton. Oil firms have implemented increases in their pump and LPG prices in the past two weeks. Oil company officials said consumers should expect more price increases in the coming weeks due to the continuing rise in global crude prices. They said the appreciation of the peso is not enough to offset the impact of rising international crude prices. Source : www.abs-cbnnews.com
June 3, 2007
Oil companies hike gasoline pump prices by P0.50/liter
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2 comments:
Will they stop increasing the gasoline prices anywhen?? I guess some day we'll be working only to pay for gasoline.
The oil prices at the world stock markets rise and it inevitably leads to hiking gasoline pump prices. I don't think that the situation will change for the better in th future.
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