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Oil firms to hike prices Monday.
(From Philippine Daily Inquirer)
Byline: Abigail L. Ho
FIRST the bad news: the prices of gasoline and diesel fuel will again be raised by 50 centavos a liter starting Monday.
There seems to be no good news. Oil firms cannot guarantee that the price increase will be the last for the month, much less can they say if the world oil situation would improve sufficiently to allow for a price rollback.
Oil refiner Pilipinas Shell Petroleum Corp. and finished product importers Caltex Philippines Inc., Eastern Petroleum Corp. and Seaoil Petroleum Corp. announced they would implement the price increase at 12:01 a.m. on Monday.
New player Flying V will follow suit a day later.
The prices of kerosene will also be increased by the same amount.
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