SOME oil companies have implemented huge price increases on their product effective today, May 12.
At the notice of Petro Gazz, Flying V, Chevron Philippines Inc., Shell, SeaOil, and PTT Philippines companies, there is an additional P2 in the price per liter of their petrol while an additional P1.90 in diesel.
An additional P1.25 is added to the price per liter of kerosene.
The price hike was effective at 6 am except for the Chevron which they will implement at 12:00 midnight.
The Clean Fuel Company also had a similar increase in price by four o’clock in the afternoon, today.
Such a movement in the price of petroleum products is due to its price movement in the global market.