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Oil firms hike prices today

Oil firms yesterday announced an increase in gasoline and diesel prices effective today.

Prices of diesel and gasoline went up by P1.20 and P1.10 per liter. Also going up is the price of kerosene, a socially impacting fuel commodity, by P0.95 per liter.

Flying V of the Villavicencio Group, Pilipinas Shell Petroleum Corp., PTT Philippines, Chevron (formerly Caltex Philippines), and Seaoil increased prices at 6 a.m. The rest of the industry players are expected to increase their prices.

Local oil prices went up after those in the world market increased, primarily due to jitters ignited by the United States’ withdrawal from the Iran nuclear deal. (Myrna M. Velasco)