Fuel prices increase

Posted on December 04, 2013

FUEL PRICES were raised yesterday to track movements of refined petroleum products in the international oil market.

However, some oil firms did not implement the latest price adjustments in some areas in the Visayas that were battered by typhoon Yolanda (international name: Haiyan) last month.

Pilipinas Shell Petroleum Corp., Petron Corp., PTT Philippines Corp. and Total Philippines, Inc. all raised the prices of gasoline by 35 centavos per liter effective 6 a.m. yesterday.

The same oil companies also imposed a price hike on diesel, increasing it by P1.35 per liter.

The price of kerosene also rose by P1.20 per liter.

Most firms, however, deferred anew the price adjustment in typhoon-stricken areas.

Petron said adjustments would not be implemented in its stations in Aklan, Bohol, Leyte and Samar.

Shell added Capiz to the former’s list. "This reflects movements in the international oil market," Petron said in a text message.

Typhoon Yolanda ravaged through the Visayas region leaving 5,680 dead, and P34.37-billion damage in infrastructure and agriculture.

This week’s upward movements followed last week’s price increases of P0.45 per liter on gasoline and P0.70 per liter on kerosene.

Prices of Dubai crude -- the benchmark used by most of Asia -- are at $108.15 per barrel yesterday from $105.95 per barrel last week.

Meanwhile, as of Dec. 2, international prices of diesel are at $130 per barrel from $128 per barrel the previous week.

Prices of gasoline are at $116 per barrel this week, from $117 per barrel last week.

Data from the Energy department’s Web site showed that prior to yesterday’s upward adjustments, gasoline was worth between P48.40 per liter to P54.55 per liter, while diesel prices ranged from P40.40 per liter to P44.65 per liter.

On Monday, oil companies also raised the prices of cooking gas by P14.30 per kilogram. -- LCSM