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Chevron Philippines and Unioil on Friday followed Pilipinas Shell Petroleum Corp's announcement of another hike in their pump prices.
In a text message sent to ABS-CBN News, Chevron said it will increase the price of its Caltex Gold, Silver, regular gasoline, Power diesel, Kerosene, and fuel oil by P1.50 per liter inclusive of value-added tax effective 6 a.m. Saturday.
Unioil also said it will increase the pump prices of all its petroleum products by P1.50 at the same time on Saturday.
Both Chevron and Unioil cited the increasing prices of petroleum products in the world market. Unioil added that it needs to partially recover its losses.
Shell was the first major oil player to announce that it will again increase prices of its oil products on Saturday.
Pilipinas Shell spokesman Bobby Kanapi said the oil company will increase by P1.50 per liter the prices of its gasoline, diesel and kerosene products. Kanapi added that Shell's liquefied petroleum gas will also increase by P1 per kilogram.
The price increases will take effect 12:01 a.m. on Saturday.
The increase is the 15th this year.
Kanapi said the increase is "due to the significant increase in world oil prices".
Promos to help consumers
Seaoil Philippines, meanwhile, has already sold some P10 million worth of pre-paid cards due to robust consumer demand in the face of rising oil prices.
Seaoil sold 10,000 cards at P1,070 each in a scheme to help consumers bear the continuing increase in the pump prices of fuel products..
The prepaid card pegs a customer's gasoline purchase at the rate of P53.50 per liter.
Since the price has been fixed, cardholders will have an easier time budgeting their fuel expenses as they will be insulated from further spikes in gasoline costs during the promo period.
The prepaid card would be valid for eleven weeks.
In case of a price rollback during the period Seaoil will refund unused prepaid cards. With a report from ANC Business Nightly
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