London, UK (BBN)-Motorists will be greeted by the heftier prices of petroleum products in the first week of the year, following oil price hike announcements on Monday.
Flying V, Pilipinas Shell Petroleum Corp. and Phoeniz Petroleum Philippines Inc. will hike gasoline prices by P0.70 per liter, and diesel by P0.60 per liter, reports the GMA News.
Flying V and Shell will also increase kerosene by P0.55 per liter.
The price changes will take effect 6am on Tuesday, January 3 for Shell and Phoenix, and 12:01am the same day for Flying V.
Latest data available from the Department of Energy (DOE) showed that diesel prices in the country currently range from P28.25 to P30.10 per liter, and gasoline from P36.90 to P47.90.