Oil firms raise diesel, kerosene prices
Credit to Author: Jordeene B. Lagare| Date: Mon, 06 Jan 2020 17:01:14 +0000
OIL companies hiked the pump prices of diesel and kerosene by 40 centavos per liter and 30 centavos per liter, respectively.
The cost of gasoline, however, dropped by 10 centavos per liter.
Chevron Philippines (Caltex) slashed fuel prices on Tuesday at 12:01 a.m. while Petro Gazz, Phoenix Petroleum, Pilipinas Shell, PTT Philippines and Seaoil adjusted their prices at 6 a.m.
Cleanfuel will implement the price adjustment on Wednesday.
The price increase comes following news that the United States killed the head of the Iranian military’s elite Quds force, Gen. Qasem Soleimani, in an attack on Baghdad’s international airport early Friday.
“The development in the Middle East is a real concern which we are watching very closely as it would impact on the supply and price of oil. It will surely affect us considering that we are import dependent,” Energy Secretary Alfonso Cusi told The Manila Times.
Last week, most firms raised the gasoline price by 85 centavos per liter, diesel by 50 centavos per liter, and kerosene by 35 centavos per liter.
Year-to-date adjustments stand at a net increase of P7.32 per liter for gasoline, P5.81 per liter for diesel, and P2.61 per liter for kerosene, based on the latest data from the Energy department.