Diesel and kerosene prices are going down this week while that of gasoline and liquefied petroleum gas (LPG) will increase this week.
In separate announcements, oil firms said Monday they would jack up gasoline prices by P1.15 per liter, while diesel price will go down by P0.35 per liter. Kerosene prices will also be slashed by P0.30 per liter.
The new round of price adjustment takes effect Tuesday.
Seaoil, Caltex, Shell, Petron, PTT, Phoenix, Total said they will implement their price adjustments at 6 a.m. of Tuesday, November 2. Cleanfuel, meanwhile, will implement it at 4:01 p.m. Other oil firms have yet to make their announcements.
Petron, meanwhile, announced an increase of P3.10 per kilogram (kg) in LPG prices and P1.73 per liter increase in auto LPG effective November 1.
The oil price adjustment for the week is a result of the movement in world oil prices, while that of LPG reflects international contract price for the month of November.
In recent weeks, global oil prices continued to reach multi-highs on tight global supply and strengthening fuel demand.
Prior to this week’s price adjustments, the year-to-date adjustments stand at a net increase of P20.80 per liter for gasoline, P18.45 per liter for diesel and P16.04 per liter for kerosene.