Oil firms raise gasoline prices by 50 centavos

Oil companies raised fuel prices by as much as 50 centavos on Tuesday morning. This is the third consecutive oil price hike since end-February.

Seaoil Philippines, Chevron (formerly Caltex) Philippines, Petron, Pilipinas Shell, Phoenix Petroleum, Eastern Petroleum, and Unioil jacked up their gasoline and kerosene prices by 50 centavos and 25 centavos, respectively.

The adjustment reflects the "upward trend in the global petroleum prices," Seaoil said.