Manila: Motorists can expect mixed movements in fuel prices this week, with gasoline prices set to increase while diesel and kerosene prices will see substantial rollbacks, according to data released by the Department of Energy (DOE) on Monday.
According to Philippines News Agency, gasoline prices will increase by as much as PHP0.47 per liter effective Tuesday. Meanwhile, diesel prices will decline by PHP9.57 per liter, while kerosene prices will go down by PHP13.30 per liter. Prices of liquefied petroleum gas (LPG) will also increase by PHP1.22 per kilogram, translating to an additional PHP13.42 for an 11-kilogram cylinder.
In an advisory, Seaoil said it will implement the latest price adjustments starting 6 a.m. Tuesday. Jetti Petroleum, on the other hand, said it will cut diesel prices by PHP9.60 per liter but hike gasoline prices by PHP0.40 per liter. Petron Corporation, meanwhile, said it will increase gasoline prices by PHP0.47 per liter, but cut diesel prices by PHP9.57 per liter and kerosene by PHP13.30 per liter at the same time.
Industry players attributed the mixed price movements to developments in the Middle East, which continue to influence global oil market trends. Last week, oil companies implemented a rollback of PHP0.55 per liter for gasoline, PHP0.65 per liter for diesel, and PHP0.90 per liter for kerosene.
