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Explain price hikes, oil firms told.
Byline: Christine O. Avendano and Amy R. Remo
THE DEPARTMENT of Energy (DOE) is asking oil companies that raised pump prices for the umpteenth time to explain why the latest round of increases was higher than computations showed.
The DOE pointed out that the price increases implemented beginning Tuesday were higher than its computations of 16 centavos per liter for diesel and 39 centavos for gasoline.
Letters had been sent to the companies that jacked up fuel prices above those levels, the DOE said.
Citing soaring global oil prices, Pilipinas Shell Petroleum Corp., Chevron (formerly Caltex) and Total Philippines the other day raised the prices of gasoline by 60 centavos per liter, of kerosene by 40 centavos a liter, and of diesel by 25 centavos per …
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