Gasoline, diesel prices up today

MANILA, Philippines - Oil firms will increase prices of gasoline and diesel products today, after global developments propped up crude oil prices in the international market last week.

There will be no price movements on kerosene due to a state of emergency situation on the product.

Starting at 6 a.m., Petron Corp. and SeaOil Philippines Inc. will increase gasoline and diesel prices by P0.40 and P0.30 per liter, respectively to reflect “movements in the international oil market.”

Eastern Petroleum, Phoenix Petroleum Philippines and PTT Philippines said they would implement the same price adjustments at 6 a.m.

Flying V said it would do the same starting at 12:01 a.m.

UniOil Philippines will increase the price of EuroDiesel IV product by P0.30 per liter and EuroGasoline products by P0.40 per liter starting at 6:01 a.m.

During last week’s trading, Saudi Arabia and Russia agreed to create a task force that would review the oil market and secure oil supply stability during the G20 summit in China, which drove global oil prices higher.