MANILA, Philippines, May 23 ----- Oil companies will implement mixed adjustments in pump prices today, with diesel and gasoline prices rising anew, while kerosene is having a minimal reduction.
In separate advisories yesterday, oil firms said they would raise gasoline prices by P0.80 per liter and diesel by P0.60 per liter. Kerosene, on the other hand, will have a P0.10 per liter rollback.
The adjustments will take effect at 6 a.m. today for most companies, except for Caltex which implemented the adjustments at 12:01 a.m. and Cleanfuel which will implement it at 4:01 p.m. This week’s mixed price adjustments, which reflect the movement in the international oil market, extend to a second straight week the increases in the prices of diesel and gasoline.
Last week, oil firms hiked gasoline prices by P0.35 per liter, diesel by P1.40 per liter and kerosene by P1.20 per liter, ending four consecutive weeks of reductions in diesel prices as well as the three straight weeks of rollbacks for gasoline and kerosene. The adjustments resulted in a year-to-date net decrease of P5.65 per liter for diesel P6.30 per liter for kerosene, data from the Department of Energy showed. Gasoline, on the other hand, has a year-to-date net increase of P4.20 per liter.
Source: philstar.com
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