Cross for consumers: Oil prices up Tuesday
Credit to Author: Tempo Desk| Date: Mon, 15 Apr 2019 09:00:17 +0000
A CAR refuels in a gasoline station on Quezon Ave. in Quezon City. (Alvin Kasiban)
The financial torture on consumers lingers as the pump prices of gasoline and diesel climb by P1.05 and P0.75 per liter, respectively, Tuesday.
Kerosene retailed by the oil companies will also go up by P0.60 per liter as indicated in their pricing advisory.
Oil companies that have sent notices on their pricing adjustments were Pilipinas Shell Petroleum Corp., Seaoil, and PetroGazz effective 6 a.m. which is the sector’s routine.
As culled from the random monitoring of the Department of Energy, gasoline products are being retailed at the pumps by leading player Petron Corp. from P50.44 to P62.57 per liter prior to this adjustment.
Pricing latitudes for its diesel products are from P42.37 to P47.29 per liter while kerosene ranged from P44.89 to P51.14 per liter.
The industry’s second biggest player Pilipinas Shell Petroleum Corp. had been selling its variety of gasoline products from P50.34 to P61.66 per liter and diesel from P41.30 to P48.95 per liter while kerosene retail prices had been at P51.69 per liter.
As of end-Friday trading, Dubai crude – which is the reference for Asian oil markets, softened a bit to $69.70 per barrel after it jumped to more than $70 per barrel in earlier trading days last week.
International benchmark Brent crude had climbed higher to $71.55 per barrel and it was the same for West Texas Intermediate crude of the US market which inched up to $63.89 per barrel as of April 12 trading. (Myrna M. Velasco)