MANILA, Philippines — Diesel prices rose by 40 centavos per liter effective at 6 a.m. on Tuesday, seesawing for the fourth week as the market gets swayed by opposing developments of crude oil production cuts toward and of expectations of weak global demand.
As of this writing, Pilipinas Shell and Seaoil Philippines also announced no change in the prices of gasoline, but kerosene prices increased by 60 centavos per liter.
Other oil firms are expected to follow suit. Last week, the Asian benchmark Dubai crude fluctuated from $62.41 per barrel on Dec. 9 to as high as $62.77 and as low as $61.92 before rising again to $62.58 as of Dec. 12.—Ronnel W. Domingo
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