Oil companies are raising the price of petroleum products by P1 following the upward movement of global oil prices.
The price hike comes after a series of rollbacks the past few weeks which slashed as much as P2 off the price of gasoline and P2.25 off diesel.
Independent oil player Seaoil Philippines was the first to hike prices at 12:01 a.m., followed by Chevron (formerly Caltex) Philippines at 6 a.m. Petron Corp. implemented its own oil price hike at 12 noon.
According to Seaoil, today's price increase reflects "the upward trend in the global petroleum market prices."
No word yet if and when Pilipinas Shell will make a similar price adjustment.
