Gasoline prices up, diesel down

MANILA, Philippines - Chevron Philippines, owner of the Caltex brand, announced yesterday a price hike of 30 centavos per liter for gasoline and a rollback of 10 centavos for diesel starting 6 a.m. today.

As of press time, other oil firms have yet to issue their respective advisories but an oil company executive said that based on their estimates, the price increase could be 50 centavos or less for gasoline.

“It will be up by 50 centavos per liter for gasoline. That’s our estimate,” said Fernando Martinez, president of Eastern Petroleum Corp. and the Independent Philippine Petroleum Companies Association (IPPCA).

Sought for comment, officials from Petron Corp. and Pilipinas Shell Petroleum Corp. said they have not received any advisories yet.