Gasoline prices down, diesel up today

Jasper Emmanuel Arcalas - The Philippine Star
Gasoline prices down, diesel up today
An attendant pumps gas at a gasoline station in Manila City on November 11, 2023.
STAR / Ernie Penaredondo

MANILA, Philippines — Local oil firms implemented mixed adjustments in petroleum prices today, with the prices of diesel and kerosene increasing, while that of gasoline declined.

Gasoline prices are down by P0.10 per liter today, marking the fourth consecutive week of decrease.

Meanwhile, diesel and kerosene prices increased by P0.25 and P0.30 per liter, respectively, snapping three straight weeks of rollback.

The pump price adjustments took effect at 6 a.m. with PTT, Jetti, PetroGazz, Seaoil and Shell, while Caltex implemented the changes at 6:01 a.m. Cleanfuel adjusted its pump prices at 4:01 p.m.

The mixed price movements today were projected by the Department of Energy-Oil Industry Management Bureau (DOE-OIMB) last week.

“Oil prices rallied as OPEC remains optimistic on oil demand growth, despite economic and geopolitical uncertainties,” DOE-OIMB assistant director Rodela Romero said last Friday.

“This is further complemented by China’s clarification on its stimulus program to bolster growth in its struggling economy and US inventory draw,” Romero added.

With the latest price adjustments, the year-to-date adjustments of gasoline and diesel now stand at a per liter increase of P7.15 and P4.45, respectively. Kerosene has recorded a net decrease of P1.35 per liter.

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