By Danessa Rivera (The
Philippine Star) | Updated March 29, 2016 - 12:00am
MANILA, Philippines - Another round
of fuel price hikes will greet motorists today after oil-producing countries
firmed up plans to meet next month to discuss supply reduction.
Pilipinas Shell Petroleum Corp. will
increase gasoline prices by P0.40 per liter, diesel by P0.20 and kerosene by
P0.10 per liter starting 6 a.m.
SeaOil Philippines Inc. adjusted
pump prices starting at 6 a.m. “to reflect movements in the international
petroleum market.”
In separate advisories, Eastern
Petroleum Corp., Phoenix Petroleum Philippines and PTT Philippines said it
would implement a similar price adjustment on gasoline and diesel at around the
same time.
Gasoline prices were raised for the
sixth straight week, and kerosene for four consecutive weeks.
Gasoline prices posted a net
increase of P0.80 per liter, diesel P1.35 and kerosene P1.30 per liter since
the start of 2016.
Reports of a meeting among
Organization of the Petroleum Exporting Countries (OPEC) member and non-member
countries to push through next month drove this week’s fuel price adjustments,
Department of Energy-Oil Industry Management Bureau (DOE-OIMB) director Melita Obillo
told The STAR in a text message.
“OPEC and non-OPEC members are
looking forward to their meeting in April on the production freeze,” Obillo
said, adding some refineries have also started implementing maintenance
shutdown, reducing supply in the market.
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