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(From BusinessWorld (Philippines))
Byline: Jennee Grace U. Rubrico and Jun P. Tagalog
More oil firms yesterday pushed up oil prices following the increase effected by independent player Eastern Petroleum Corp. over the weekend.
Oil major Pilipinas Shell Petroleum Corp. yesterday said it was implementing a 60-centavo per-liter increase for gasoline and a 30-centavo per-liter increase for diesel and kerosene effective midnight last night to factor in the higher prices of oil in the world market.
Shell will also increase the price of its liquefied petroleum gas (LPG) by 75 centavos per kilogram by midnight tonight.
Independent oil company Flying V, meanwhile, increased the prices of diesel by 53 centavos per liter and of gasoline by 80 centavos per liter effective yesterday morning.