Gasoline, Diesel Prices Increase Jan. 11, 2012: Petron, Caltex Announce Hikes
Due to tensions in the Middle East, the price of oil worldwide has increased the past week. Due to this, local oil prices have also been increased. Petron, Caltex (Chevron) and Eastern Petroleum have announced their price changes for gasoline and diesel effective today.
- Petron and Caltex (Chevron) will increase gasoline and diesel prices by P1 per liter. These will be effective at 6AM this morning.
- Eastern Petroleum has increased gasoline products by P1.75 per liter and diesel by P1.50 per liter. These became effective at midnight.
Other Philippine oil retailers have not announced their adjustments but they are expected to follow. According to media reports, if the tension in the Straits of Hormuz continues, more price increases may be coming.
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