Oil prices up by P0.50
Inquirer
May 7, 2006
PETRON Corp., Chevron Philippines Inc., Eastern Petroleum Corp., Flying V and Unioil Petroleum Philippines Inc. hiked their fuel prices by 50 centavos a liter at different times on Sunday.
Total (Philippines) Corp. will increase its prices by the same amount at 12:01 a.m. Monday.
A similar price increase was implemented by Pilipinas Shell Petroleum Corp. last Saturday.
According to data from the Department of Energy, the regional benchmark Dubai crude skyrocketed to an average of 68.23 dollars a barrel as of May 3 from an April average of 64.14 dollars a barrel.
The price of unleaded gasoline based on the Mean of Platts Singapore (MOPS) benchmark for refined petroleum products also surged to 90.35 dollars a barrel in the first 3 days of May from 81.13 dollars a barrel last month.
MOPS-based diesel soared to 91.12 dollars a barrel in the May 1-3 period from 86.66 dollars a barrel in April.
These new price adjustments bring premium unleaded gasoline prices to between 38.29 and 39.76 pesos a liter, diesel to between 33.29 and 34.92 pesos a liter, and kerosene to between 36.10 and 38.50 pesos a liter.
May 7, 2006
PETRON Corp., Chevron Philippines Inc., Eastern Petroleum Corp., Flying V and Unioil Petroleum Philippines Inc. hiked their fuel prices by 50 centavos a liter at different times on Sunday.
Total (Philippines) Corp. will increase its prices by the same amount at 12:01 a.m. Monday.
A similar price increase was implemented by Pilipinas Shell Petroleum Corp. last Saturday.
According to data from the Department of Energy, the regional benchmark Dubai crude skyrocketed to an average of 68.23 dollars a barrel as of May 3 from an April average of 64.14 dollars a barrel.
The price of unleaded gasoline based on the Mean of Platts Singapore (MOPS) benchmark for refined petroleum products also surged to 90.35 dollars a barrel in the first 3 days of May from 81.13 dollars a barrel last month.
MOPS-based diesel soared to 91.12 dollars a barrel in the May 1-3 period from 86.66 dollars a barrel in April.
These new price adjustments bring premium unleaded gasoline prices to between 38.29 and 39.76 pesos a liter, diesel to between 33.29 and 34.92 pesos a liter, and kerosene to between 36.10 and 38.50 pesos a liter.
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