Slightly less merry Christmas for motorists as pump prices rise

Aside from season’s greetings, Manila’s motorists were also greeted by a less-welcome increase in fuel pump prices as the country’s petroleum companies announced a price hike in time for Christmas.

Aside from season’s greetings, Manila’s motorists were also greeted by a less-welcome increase in fuel pump prices as the country’s petroleum companies announced a price hike in time for Christmas.

 

Neil Jerome Morales of the Philippine Star reports "Petron Corp., Chevron Philippines Inc. and Pilipinas Shell Petroleum Corp. and independent player PTT Philippines Corp. increased prices of premium and regular gasoline by 50 centavos and 55 centavos per liter, respectively." The price of diesel also went up by 45 centavos per liter as did the price of kerosene, by 60 centavos per liter.

 

The price increase came after a slight decrease in pump prices--20 centavos per liter for regular and premium gasoline-- the week before Christmas.

 

"There was no official explanation for the latest price hikes, but the oil firms' usual justification for any adjustments is the need to make local prices consistent with global crude prices," the report said.

 

For more on this story, log on to PhilStar.com.

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