Shell warns of increases in oil prices

Consumers should brace for more oil price increases this month as petroleum players still have a substantial under recoveries that they have to collect this month.

Ed Chua, president of the Pilipinas Shell Petroleum Corp. (PSPC), disclosed that Shell alone has an underrecovery of about P1 a liter in diesel, gasoline and kerosene, meriting at least two more increases in pump prices for the month of August.
Manila Times