Prices of gas down but diesel, kerosene up

MANILA, Philippines — Fuel companies will implement mixed adjustments for the prices of petroleum products starting Tuesday.

Seaoil, PetroGazz, CleanFuel, Caltex, Jetti and Shell Pilipinas said the per-liter price of gasoline would slightly decrease by 10 centavos.

Diesel and kerosene, on the other hand, would be more expensive by 75 centavos and 50 centavos per liter, respectively.

READ: Oil companies set mixed fuel price movements starting November 5

Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau, earlier said the potential increase could be attributed to the positive outlook on the fuel demand of the United States, tighter Asian regional supplies, and geopolitical risks, particularly the ongoing war in the Middle East.

Last week, oil companies raised pump prices by up to 50 centavos per liter.

The latest price movements would bring the year-to-date net increases for gasoline and diesel to P8.65 and P7.30 per liter, respectively.

Kerosene, on the other hand, has declined by P2.60 per liter since the start of the year. —Lisbet K. Esmael