MANILA, PhilippinesWhen the cap on fuel prices in Luzon is lifted on Monday, oil firms said they would increase prices in installments and not go for the full P4 to P5 a liter, the amount they claimed they have to recover, so as not to subject consumers to a price shock. Fernando Martinez, chair of the Independent Philippine Petroleum Companies Association and of Eastern Petroleum Corp., said the oil companies would not recoup their under-recoveries in one blow. Recovery would likely be implemented in three installments, he said. Competitive forces would ultimately determine where fuel prices would go after the lifting of...
 |
 |
The rest is here:
Oil firms vow staggered price hikes
No Responses to “Oil firms vow staggered price hikes” Leave a reply ›