Local oil companies announced that prices of gasoline will go up again this week by Php 1.05 per liter, and diesel by Php 0.75 per liter.
As per the advisory of oil companies, kerosene products being retailed by the oil firms will increase by Php 0.60 per liter this week. Shell and Petro Gazz will increase prices of gasoline by P1.05 per liter, while diesel will be hiked by Php 0.75 per liter. Other companies are most likely to implement the same adjustments.
The said adjustments will be implemented starting Tuesday, April 16 at 6 AM.
Based on the random monitoring of the Department of Energy (DOE), gasoline products are being retailed at the pumps by leading player Petron Corporation in the range of Php 50.44 to P62.57 per liter prior to this adjustment. Pricing latitudes for its diesel products are from Php 42.37 to P47.29 per liter; while kerosene had been ranging from Php 44.89 to Php 51.14 per liter.
The industry’s second-biggest player, Pilipinas Shell Petroleum Corporation, had been selling its variety of gasoline products at Php 50.34 to Php 61.66 per liter; and diesel from Php 41.30 to Php 48.95 per liter; while kerosene retail prices had been at Php 51.69 per liter.
Petroleum-exporting countries also agreed to cut output to prevent excess supply from growing.