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(From BusinessWorld (Philippines))
Byline: Bernardette S. Sto. Domingo
Oil giants Petron Corp., Pilipinas Shell Petroleum Corp., and Caltex Philippines, Inc., have increased prices of their diesel, gasoline and kerosene products by 30 centavos per liter, following similar adjustments by small industry players.
The new prices for Petron and Shell took effect at 12:01 a.m. yesterday. Caltex's prices were implemented on Wednesday.
The increase was attributed by officials to escalating prices of oil in the world market due to the recall referendum victory of leftist President Hugo Chavez in Venezuela, the world's fifth largest oil exporter, as …