Saturday, January 24, 2009

For the second time this week, oil firms have announced an increase on gasoline prices by 75 cents. The Big 3 have all implemented the increase beginning today, with both Shell and Chevron also increasing their E10 pump prices by P1 per liter. All three firms, plus PTT Philippines, have also implemented a 50 cent rollback on diesel.

Seems like the oil companies are putting one up on the people again. When global oil prices go up, they implement price increases immediately. But when the pricing trend is going the opposite way, they delay the rollback.

P.S. Thanks to AuTom for the heads up!