Business, Finance & Technology
Business Technology, Finance Technology & Information Technology
Oil prices will be adjusted by businesses. Tuesday
MANILA, Philippines — Beginning Tuesday, oil firms will implement pricing changes.
Caltex, Cleanfuel, Jetti, Petro Gazz, PTT Philippines, Seaoil, and Shell have issued separate warnings stating that gasoline prices will be reduced by PHP1.70 per liter while diesel prices will be raised by PHP1.20 per liter.
Kerosene prices would also rise by PHP2.45 per liter at Caltex, Seaoil, and Shell. Last week’s kerosene price reduction will be countered by this week’s price increase.
Oil companies dropped diesel prices while raising gasoline prices in the preceding week.
Prices of gasoline have increased by PHP24.80 per liter, diesel by PHP28 per liter, and kerosene by PHP24.25 per liter since the beginning of the year.
Global oil price benchmarks closed higher on Friday, as the supply outlook remains tight amid strong demand for fuel. (
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