Gasoline prices cut, diesel to rise slightly

Motorists filling up their vehicles with gasoline products will generate savings this week as the price of this commodity will be down by ₱0.25 per liter this week. Conversely, the price of diesel products at domestic pumps will increase by ₱0.25 per liter; and it is the same case for kerosene products, of which costs will be higher by ₱0.20 per liter in this round of adjustment. As of this writing, the oil companies that already sent notices on their cost movements effective Tuesday (October 20) had been Pilipinas Shell Petroleum Corporation, Seaoil, PetroGazz, Cleanfuel and Chevron while the rest of the industry players are anticipated to follow. In the past several weeks, price swings at Philippine retail pumps treaded on slight adjustments because prices in the world market had been relatively steady. (Myrna M. Velasco)