Gasoline prices down; diesel, kerosene up

Prices of gasoline products have been rolled back, but oil companies implemented increases in diesel and kerosene prices.

Pilipinas Shell Petroleum Corp., the local subsidiary of energy giant Royal Dutch Shell, implemented the price adjustments past midnight of Tuesday.

“Please see fuel price movement of Shell effective 00:01H, Aug. 18, 2015. Gas: P0.25 per liter decrease, kerosene: P0.20 per liter increase and diesel: P0.35 per liter increase,” Pilipinas Shell said in a text advisory.

Petron Corp., the country’s largest oil refiner and retailer, also adjusted fuel prices past midnight today “to reflect movements in the international oil market.”

It implemented a “rollback in gasoline by P0.25/liter; and an increase in diesel by P0.35/liter,” according to an advisory.

Phoenix Petroleum Philippines Corp. implemented a similar price adjustment on diesel and gasoline prices effective 6 a.m. today.

It also reduced gasoline prices by P0.25 per liter and raised that of diesel by P0.35 per liter.

The price adjustment was “to reflect movements in international oil prices,” Phoenix said.

Ahead of other oil firms, Eastern Petroleum Corp. reduced gasoline prices by P0.30 per liter and hiked diesel prices by P0.30 per liter at 6 p.m. yesterday.

“The latest reduction, particularly for gasoline prices, reflects the continuous downward trend in global gasoline prices, while the diesel price hike is attributable to the slight increase in international diesel prices and the depreciation of the peso against the dollar,” Eastern Petroleum chairman and CEO Fernando Martinez said.

Diesel prices ranged from P23.95 to P27.20 per liter and gasoline prices at P38.10 to P44.50 per liter prior to this week’s price cuts, Department of Energy oil monitoring showed.