MANILA – Beginning at 12:01 a.m. on Tuesday, oil companies will implement mixed price adjustments.
In separate announcements, Cleanfuel, Petro Gazz, Seaoil, and Shell stated they would reduce gasoline prices by PHP0.90 per liter while raising diesel prices by PHP0.60 per liter. Additionally, Seaoil and Shell will increase kerosene prices by PHP0.80 per liter.
Other oil companies are expected to follow this trend.
The Department of Energy (DOE) attributed last week’s price movements to the decision by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to further limit their output, impacting crude oil prices on the global market.
According to the DOE, with the recent adjustments, the year-to-date net increase for gasoline prices stands at PHP7.55 per liter, and PHP4.85 per liter for diesel. Conversely, kerosene prices have seen a year-to-date net decrease of PHP1.05 per liter. (PNA)
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