Mixed oil price adjustments set this week

August 2, 2022 Edd Reyes 117 views

LOCAL oil firms are set to implement mixed price adjustments on petroleum products, which will take effect on Tuesday.

Major oil companies Pilipinas Shell, Petron Corporation, along with independent oil firms Seaoil Philippines and Flying V will increase their prices of gasoline by P0.75 centavos per liter while prices of diesel will roll back by P0.60 centavos per liter and kerosene by P0.75 centavos per liter effective at 6:00 a.m. Tuesday.

Chevron Corporation, another major oil firm, also imposed the same price adjustments much earlier at 12:01 a.m.

PTT Philippines, Total Philippines, Phoenix Petroleum. Petro Gazz, Unioil, and Jetti Oil also implemented mixed price adjustments on their gasoline and diesel products by the same level effective at 6:00 a.m., while Clean Fuel will adjust its prices at 8:01 a.m., also on Tuesday. Most independent oil players do not sell kerosene.

Major oil firms also announced another rollback of prices on liquefied petroleum gas (LPG) for 4th straight month.

Petron Corporation, in its advisory, said they cut their LPG prices by P2.05 per kilogram, which is equivalent to P22.55 per 11 kilograms of cooking gas tank, while Auto LPG prices by P1.15 per liter effective at 12:01 a.m. Tuesday.

Energy sources said the latest price cut reflected the lower contract prices this month.