Oil firms increase prices of gas anew

THREE oil firms raised again the pump prices of gasoline by P1 per liter and diesel and kerosene by 75 centavos per liter. Pilipinas Shell Petroleum Corp., in its advisory, said the increase would take effect after midnight today while Total Philippines and Petron Corp. at 6 a.m. yesterday (Wednesday).

Bobby Kanapi, Shell’s vice president for corporate communications, said the hike in the firm’s prices was basically due to “higher production costs.”

Rey Jimenez of Seaoil Philippines also announced that the company would raise its gasoline prices by 50 centavos per liter effective 12:01 a.m. Wednesday (April 15).

Oil firms have been implementing price hikes since March, reportedly due to adjustments in international prices. But during the Holy Week break, they enforced a minimal rollback in prices.

Monitoring conducted by the Department of Energy showed that Dubai crude inched by US$ 4 per barrel from the US$ 46 per barrel average last March to US$ 50 per barrel as of April 6, 2009.

Pump prices of gasoline now range between P30 to P38 per liter and diesel by P24 to P34 per liter.

On one hand, the oil giant Chevron Philippines together with two more independent oil firms have also increased the prices of their petroleum products.

Antonio “Toby” Nebrida, Chevron’s corporate communications chief said they are adjusting by P1 per liter the prices of their gasoline and E10 products and 75 centavos per liter for both diesel and kerosene effective 12:01 a.m. Wednesday.

Flying V and Eastern Petroleum Corp. also implemented the same price hike.

Last Tuesday, Shell Philippines, Petron Corp., Total Philippines and Seaoil Philippines implemented the price hikes citing the higher production costs.

Seaoil Philippines, however, only implemented a 50 centavos price adjustment for its gasoline products.

As of April 8, pump prices of gasoline range from P30 to P39 per liter while diesel were sold at P23 to P31 per liter and kerosene at P31 to P34 per liter.

As of April 6, Dubai crude increased by US$ 4 dollars from the US$ 46 per barrel last March to US$ 50 per barrel this month. PNA

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