Price of gas up by P0.50 per liter
The pump price of gasoline climbed by P0.50 per liter on Tuesday, March 5, following Russia’s implementation of a six-month export ban.
On the other hand, the prices per liter of diesel and kerosene went down by P0.40 and P0.35, respectively, according to local oil companies.
READ: Gasoline prices up 50¢ per liter due to Russia export ban
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Caltex implemented the price adjustments by 12:01 a.m., followed by Shell and Seaoil at 6 a.m., and CleanFuel at 4:01 p.m.
The Department of Energy Oil Industry Management Bureau attributed the rollbacks in diesel and kerosene prices to an improvement in US crude stocks while the hike in gasoline prices was due to Russia’s export ban that took effect on March 1. —MEG J. ADONIS
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