'Big 3' oil companies to implement mixed price adjustments

MANILA, Philippines - Oil companies Petron, Shell and Chevron announced on Monday mixed price movements in their products which will take effect on Tuesday.

There will be a 0.35-centavo-per-liter rollback on gasoline products and a 0.25-centavo increase per liter of kerosene. There are no price movements on the price of diesel, the companies noted.

Shell and Chevron will implement the price adjustments at 12:01 a.m. on Tuesday while Petron will do so at 6.am.

In its price advisory quoted by the Philippines News Agency, Petron said the price adjustment “reflects movements in the international oil market."

Late last month, oil companies rolled back the price gasoline products by P1.70 per liter and diesel by 0.25 centavos.