Mixed adjustment on oil prices bared
ANOTHER mixed adjustment on pump prices of petroleum products will be implemented by local oil companies effective Tuesday.
At 12:01 a.m. Tuesday, Chevron Philippines Inc. will increase its prices of gasoline products by P0.15 per liter, diesel by P0.25 per liter while a price rollback of P0.15 centavos will be carried out on kerosene.
Pilipinas Shell and Petron Corporation also implemented the same price adjustment at 6 a.m. Tuesday while small player Clean Fuel only implemented a P0.25 per liter increase on diesel and no price movement on gasoline effective at 4:01 in the afternoon.
Thai-led PTT Philippines, Total Philippines, Phoenix Petroleum, Sea Oil and Unioil Philippines also implemented the same price adjustments on their diesel and gasoline products effective at 6 a.m. Tuesday.
Energy sources in their earlier forecast said prices of gasoline will not be affected but the sudden increase of prices of ethanol resulted in a minimal increase of prices of gasoline products.
