THE country’s oil players raised gasoline and diesel prices by P0.35 per liter and kerosene by P0.30 per liter starting Tuesday.
PTT Philippines, Seaoil Philippines, Eastern Petroleum Philippines, Phoenix Petroleum Philippines and Flying V issued advisories of the price increase, ending the month-long back in March. The other oil firms are expected to follow suit.
“PTT will increase prices of both diesel and gasoline products by P0.35 per liter effective 6am Tuesday April 4,” the company said in its advisory.
Oil prices have been going up due to bigger demand against a steady supply.
At the same time, members of the Organization of the Petroleum Exporting Countries have shown discipline in complying on their previous agreement on production cuts which also pushed up prices.
The oil firms, however, cut the price of cooking gas or liquefied petroleum gas by P5 per kilo or P55 for 11-kilo tank effective April 1 to reflect the international contract prices of LPG for the month of April.
“Petron will rollback Gasul and Fiesta Gas prices by P5 per kg effective 12:01 am, April 1. We will likewise decrease Xtend AutoLPG prices by P2.80/liter at the same time,” Petron said.
The oil firms cut the price of price of diesel by P0.25 per liter and kerosene by P0.15 per liter last March 28.
LPG prices are adjusted on a monthly basis while pump prices are adjusted weekly. Prices vary depending on brand, location of the station and market forces.
