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MANILA - More than a week after the southwest monsoon-induced flooding, oil companies moved to recover price increases they implemented in areas spared from the calamity.
As this went online, four companies on Monday resumed increases in their product prices.
Pilipinas Shell was the first to announce an increase in prices of premium gasoline by P1.80 per liter, regular gasoline by P1.70 per liter, kerosene by P1.60 per liter and diesel by P1.50 per liter. The adjustment took effect 12:01 a.m.
Total Philippines followed suit 6 a.m., but held off any adjustment for kerosene.
Starting noon, Chevron Philippines raised prices of all Caltex products by the same amounts.
Eastern Petroleum was the fourth to announce similar adjustments effective 12:01 a.m. Tuesday.
All companies that raised prices said the adjustment would take effect only in areas covered by a price freeze last week. These areas include the entire National Capital Region, Bulacan, Pampanga, Bataan, Zambales, Rizal, Sta. Cruz and Pagsanjan in Laguna, as well as Bacoor, Kawit and Rosario in Cavite.
Oil firms have now jacked up prices at the pump for seven straight weeks, although the previous hike, which mirrored this week’s increase, was limited to “non-calamity” areas.
Many oil companies last week had said they would freeze prices in areas under a state of calamity due to rain and floods, which left more than 90 people dead.
According to the oil firms, the price increases reflect movements in the international oil market.
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