Gasoline price up by 50¢ liter

MANILA, Philippines -  Petron Corp. and Chevron Philippines (Caltex) raised their pump prices effective yesterday due to the increase in international oil prices, following a series of price rollbacks last week.

Petron and Chevron announced an increase in the price of premium gasoline by 50 centavos per liter. Prices of regular gasoline and diesel went up by 25 centavos per liter. .

At the same time, Petron announced a P2.50 per kilo price rollback on its liquefied petroleum gas (LPG) or cooking gas products effective 6 a.m. yesterday.

“We will implement a P2.50 per kg (value-added tax inclusive) rollback in LPG prices for commercial accounts,” it said.

Petron said it also implemented a P1.57 per liter decrease on its auto LPG products, which are being used in the transport sector.

Based on Department of Energy (DOE) data, as of May 22, the net increase in oil prices this year stood at P5.17 per liter for gasoline and P5.05 per liter for diesel.

As of May 22, diesel products are now selling at a range of P42.35 to P44.35 per liter while gasoline is at P50.75 to P57.02 per liter. Auto LPG is at P32.91 to P35.51 per liter.

An 11-kg LPG, meanwhile, sells at P728.50 to P792.50.