Diesel up; gasoline, kerosene prices to see rollback

From cutbacks last week, pump prices will be on mixed cost adjustments starting this Tuesday (March 20), with diesel prices going up by 10.40 per liter; while kerosene will be on a rollback of 10.55 per liter. For gasoline, its price at the pumps will not move on this batch of fuel cost movements, as noted by the industry players.The oil companies sustained their price movement schedules of either 12:01 a.m. or 6:00 a.m. on Tuesday, depending on the notices sent to their dealers and networks. As of press time, the oil firms that already adjusted prices include Flying V, Eastern Petroleum Philippines Inc., Seaoil, Phoenix Petroleum Philippines, Inc. and Pilipinas Shell Petroleum Corporation; while the rest of their industry rivals have been anticipated to follow.Prior to this round of price adjustments, per product costs had been at the range of 135.25 to 142 per liter for diesel; and 142.32 to 152.50 per liter for kerosene products, according to data from the Department of Energy. With the pump price of gasoline unchanged this week, costs shall stay in the range of 146.87 to 156.77 per liter or at an average of P52.42 per liter. The energy department has emphasized that it has been monitoring both the swing of fuel prices in the world market and the fluctuations in Philippine peso to US dollar exchange rate because these are the major factors exerting pressures on petroleum prices. In the international realm, it is seen that supply being injected into market is on very ‘stable level,’ given recent reports of increased crude production of the United States. (MMV)