Gasoline prices down; diesel, kerosene prices up

MANILA, Philippines - Oil companies announced another round of petroleum price adjustments starting last midnight.

Local petroleum firms will implement a rollback of P0.75 per liter for gasoline, an increase of P0.35 per liter for diesel and P0.25 per liter for kerosene, tracking movements in the global crude market.

Oil companies including Petron Corp., PTT Philippines, Phoenix Petroleum and Seaoil Philippines were among those that issued yesterday separate announcements regarding the price adjustments.

Petron, the country’s biggest oil refiner, said it would implement the following price adjustments effective 12:01 a.m. today: a rollback of P0.75 per liter for gasoline and an increase of P0.35 per liter for diesel and P0.25 per liter for kerosene.

“These reflect movements in the international oil market,” it said.

“Phoenix Petroleum Philippines will decrease the price of gasoline by P0.75 per liter and increase the price of diesel by P0.35 per liter effective 6 a.m. today to reflect the fluctuations in the prices of refined petroleum products in the market,” the company said.

Similarly, PTT Philippines, local subsidiary of Thailand’s biggest oil company, said it would roll back prices of its gasoline products by P0.75 per liter while there will be an increase in diesel prices by P0.35 per liter effective 12:01 today.