Gasoline prices down; diesel, kerosene up

MANILA, Philippines - Oil firms will reduce gasoline prices but raise prices of diesel and kerosene today  following trends in the global oil market.

SeaOil Philippines Inc. rolled back gasoline prices by 25 centavo per liter starting 6 a.m.

However, it raised diesel prices by 30 centavo per liter and kerosene prices by 15 centavo per liter at the same time.

SeaOil said the price adjustments “reflect movements in the international petroleum market.”

As of writing, Petron Corp. and Shell have yet to make an advisory on its price movements but is expected to make similar adjustments in their fuel products. 

In separate advisories, Eastern Petroleum, Phoenix Petroleum Philippines and PTT Philippines reduced gasoline prices by 25 centavo per liter and increased diesel prices by 30 centavo per liter starting by 6 a.m.

Unioil Philippines, on the other hand, implemented the same price adjustment starting at 6:01 a.m.

Prior to price adjustments, diesel prices ranged between P25.05 per liter and P28.65 per liter, while gasoline prices are within the P36.50 per liter to P44.10 per liter range.

In a text message, Department of Energy-Oil Industry Management Bureau director Melita Obillo said this week’s reduction in gasoline prices was due to higher production of gasoline in global refineries.