Oil price hikes after rollback

August 10, 2020

AFTER rolling back prices of their gasoline products last week oil firms are implementing mixed price adjustments of their pump prices effective today.

Major and independent oil firms Petron Corporation, Pilipinas Shell, PTT Philippines, Petro Gazz, Seaoil, and Cleanfuel in separate advisories announced a uniform increase of 25 centavos per liter of gasoline products effective at 6 a.m. today, the same amount they snipped from gasline prices last week.

However, oil companies will cut the prices of their diesel products by 20 centavos per liter and kerosene by 35 centavos per liter, also at 6 a.m. today.

Chevron Philippines, another major oil company, implemented the same price adjustments, much earlier at 12:01 a.m.

Energy industry sources said the latest price adjustment reflects movement in the international oil market.