Philip Morris ups Parliament, Virginia Slims price

Philip Morris USA has effectively raised the price of its Parliament Cigarettes by 15 cents per pack and the price of its Virginia Slims brand by 20 cents per pack.

A spokesman for the largest U.S. cigarette company said that from Jan. 7 through Feb. 24 it will cut the promotional allowances it gives wholesale distributors of Parliament Cigarettes and Virginia Slims Cigarettes.

Reductions in promotional allowances are typically passed on to consumers in the form of higher prices. The average price for a pack of cigarettes can vary widely due to differences in local taxes.

Philip Morris Inc will reduce the Parliament Cigarettes promotional allowance by $1.50 per carton to $2 per carton and eliminate the $2 per carton promotional allowance on Virginia Slims Cigarettes, a spokesman said.

Philip Morris is a unit of Altria Group Inc