Price of gasoline up; diesel, kerosene down starting today

MANILA, Philippines, March 14 ------ The pump price of gasoline will increase by P1 per liter, while those of diesel and kerosene will be rolled back by P0.10 and P0.60 per liter, respectively, effective today.

In separate advisories, local oil firms announced their respective price adjustment schedules.

Shell (6 a.m.)

Gasoline: +P1 per liter

Diesel: -P0.10 per liter

Kerosene: -P0.60 per liter

Seaoil (6 a.m.)

Gasoline: +P1 per liter

Diesel: -P0.10 per liter

Kerosene: -P0.60 per liter

Cleanfuel (4:01 p.m.)

Gasoline: +P1 per liter

Diesel: -P0.10 per liter

The adjustments come a week after local oil firms hikes the prices of gasoline (P0.40 per liter), diesel (P1.50 per liter), and kerosene (P1.25 per liter). Local oil prices are based on the Mean of Platts Singapore (MOPS), which refers to the calculation of average daily price assessments for a basket of crude and refined petroleum products traded in the Singapore market.

This pricing reference is widely used in Asia-Pacific markets because Singapore is a major hub for oil trading and refining in the region.

Source: inquirer.net