Mixed price adjustments on fuel prices this week
MOTORISTS using gasoline on their vehicles will again be disappointed as local oil firms announced on Monday another increase in pump prices on gasoline while a meager decrease in diesel and kerosene, effective Tuesday.
Major oil firm Chevron Philippines will raise its prices of gasoline products by P1.00 per liter while reducing the price of diesel products by P0.10 centavos per liter and kerosene by P0.60 centavos per liter effective at 12:01 a.m. Tuesday.
Two other major oil companies, Petron Corporation, and Pilipinas Shell, along with small oil players Seaoil Philippines and Flying V, also announced the same price adjustments on their petroleum products at 6 a.m. Tuesday.
Independent oil firms PTT Philippines, Petro Gazz, Unioil Philippines, Total Philippines, and Eastern Petroleum, which do not carry kerosene, will implement the same set of hikes on their gasoline and diesel products, also at 6 a.m. Tuesday while Clean Fuel at 4:01 p.m.
The mixed price adjustments, according to PTT Philippines Communication Officer Jay Julian, were triggered by the increase in China’s demand for oil and Russia’s alleged impending production cut.
