Gasoline prices up today; kerosene rolled back

MANILA, Philippines — Oil companies have implemented mixed changes in the prices of fuel today, a reflection of the movement of prices in the international market.

Gasoline prices were raised by P0.30 per liter, kerosene rolled back by P0.20 per liter, while prices of diesel remained unchanged.

Last week, oil companies implemented slight increases to gasoline and diesel, while no price movements were made for kerosene.

Pilipinas Shell Corp., Flying V, Total Philippines Corp., Seaoil Philippines Inc., Petro Gazz, Phoenix Petroleum Philippines Inc., Philippines Corp, and Flying V said they would implement the price hike starting 6 a.m. today.

Petron Corp., Unioil Petroleum Philippines Inc., Eastern Petroleum and Jetti Petroleum have yet to announce their respective price changes as of this writing.

Crude prices rose on Friday, but declined on the week due to concerns that oversupply would weigh on the United States market while trade disputes and slowing global economic growth would dampen the demand for oil, according to a report from Reuters.

The benchmark Brent crude oil futures LCOc1 settled up 40 cents, or 0.6 percent, at $71.83 a barrel, after touching a high of $72.49 earlier in the session.

US West Texas Intermediate crude futures (WTI) CLc1 rose 45 cents, or 0.7 percent, to $65.91, after touching a session high of $66.39.

For the week, Brent was down 1.4 percent, and US crude fell 2.6 percent.