Oil firms raise gas prices today

MANILA, Philippines - This year’s Holy Week break will be accompanied by an increase in local pump prices after oil companies announced yesterday a P1.10 per liter hike for gasoline and P0.60 per liter for diesel effective today.

“Phoenix Petroleum Philippines will increase the prices of gasoline by P1.10 per liter and diesel by P0.60 per liter effective 6 a.m. of March 31, 2015 to reflect the movements in the prices of refined petroleum products in the international market,” said Phoenix Petroleum, an independent oil company and the first to issue the price hike announcement.

Another independent oil company, Seaoil Philippines, issued a similar announcement.

“Seaoil will adjust its pump prices per liter effective 12:01 a.m., March 31, 2015, as follows: gasoline, increase of P1.10 per liter; diesel, increase of P0.60 per liter and kerosene, increase of P0.80 per liter,” it said.