By
Lenie Lectura - February 20, 2017
OIL firms on Monday
again announced a price increase in gasoline products, raising by P0.25 per
liter and kerosene by P0.15 per liter effective February 21.
The price adjustment
will take effect at 6 a.m., according to the respective advisories of
Seaoil Philippines, PTT Philippines, Phoenix Petroleum and Eastern Petroleum
Corp.
“This is to reflect
movements in the international petroleum market,” the oil companies said.
Other oil firms are
expected to follow suit.
This is the third
consecutive price increase for oil prices this month.
On February 14 a
P0.20-per-liter increase in diesel and P0.10-per-liter hike in kerosene were
implemented.
A week before that,
gasoline products increased by P0.50 per liter, and P0.30 per liter for diesel
and kerosene, respectively.
Oil firms implement
their respective price adjustment on a weekly basis to accurately reflect price
movement in the international oil market.
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