MANILA, Philippines - Oil firms will increase gasoline prices today amid the perceived compliance of the world’s top oil producers with their agreement to reduce output.
In an advisory, Pilipinas Shell Petroleum Corp. said gasoline prices would increase by 60 centavos per liter starting at 6 a.m.
SeaOil Philippines Inc., Eastern Petroleum Corp., Phoenix Petroleum Philippines and PTT Philippines implemented similar price adjustments on their gasoline products.
Flying V announced similar price hikes starting at 12:01 a.m.