Gasoline prices up today; diesel unchanged

MANILA, Philippines — Oil companies are implementing an increase in the price of gasoline today.

In an advisory, Petron Corp. said it will impose a P0.10 per liter increase in the price of gasoline and a P0.20 per liter increase in the price of kerosene.

No price adjustment will be made for diesel.

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

It added that the price adjustments are effective at 6 a.m. today.

Among the oil firms to implement the changes at 6 a.m. are Flying V, Seaoil, Petro Gazz, Phoenix Petroleum and Pilipinas Shell.

Unioil Petroleum Philippines said its price adjustment will be made at 6:01 a.m.

Meanwhile, Cleanfuel said it will not implement price adjustments for its gasoline and diesel products this week.

This is the first week of mixed price adjustments in fuel products after two consecutive weeks of price increases.

Last week, oil firms imposed a P0.05 per liter increase in the price of diesel and a P0.20 per liter increase in the price of gasoline.

A P0.45 per liter increase was also made in the price of kerosene.

In the last week of trading, oil prices fell for the second consecutive week, impacted by news on US President Donald Trump contracting COVID-19, Reuters reported.

On Friday, Brent crude LCOc1 was down $1.66, or 4.1 percent, at $39.27 a barrel, while the US oil CLc1 settled $1.67, or 4.3 percent lower at $37.05 a barrel.

On a weekly basis, Brent was down seven percent while US oil dropped eight percent.