NextGen Day

Starting on Tuesday, oil firms will begin implementing yet another round of pricing changes for gasoline.

Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell all said separately that they will raise gasoline prices by PHP0.90 per liter while lowering diesel costs by PHP0.30 per liter.

Prices for kerosene will also increase by PHP1.35 per liter at Caltex, Seaoil, and Shell.

It is anticipated that other local industry participants would do the same.

Last week, pricing changes were imposed by the oil industry, with a significant increase in the price of gasoline and only minor decreases in the price of diesel and kerosene.

With the adjustment from the previous week, the net rise in gasoline prices for this year was PHP27.20 per liter, PHP43.30 for diesel, and PHP34.65 for kerosene.

According to data from the United States Energy Information Administration, the country’s oil inventories increased last week to higher than anticipated levels, driving up supply while China’s response to the coronavirus disease 2019 (Covid-19) has subdued demand.

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