Business Technology, Finance Technology & Information Technology
Diesel and kerosene costs are declining while gasoline prices are rising
Petroleum prices will change starting at 1:00 a.m. Tuesday.
Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell each said separately that they would increase gasoline prices by PHP1 per liter.
Several businesses increased gasoline prices for the second consecutive week this week.
Diesel prices will be reduced by PHP0.10 per liter by the same oil companies.
The cost of kerosene will also be decreased by PHP0.60 per liter by Caltex, Seaoil, and Shell.
Within the day, it is anticipated that additional oil players would declare the same thing.
According to experts in the field, China’s demand is pushing up crude oil prices while the United States’ economic data, particularly rate hikes, is containing the price rally.
Since the beginning of the year, the cost of gasoline has climbed by PHP7.80 per liter, diesel has increased by PHP2.10 per liter, and kerosene has increased by PHP1.25 per liter.
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