Philippines pump prices rise

In response to moves by Petron Corp and Total (Philippines) Corp, Pilipinas Shell has raised prices of its oil products. Prices of the company's gasoline, diesel, kerosene and LPG have all gone up.

Pilipinas General Manager Roberto S. Kanapi has defended the price hike and attributed it to the sustained increase in the international price of crude and finished oil products and the continuing fall of the peso against the dollar.

The country's Department of Energy has defended the recent price hikes and has attributed them to the steady rise in the price of oil in the world market. The Philippines are a net importer of crude and finished products.