Mixed movements in gasoline, diesel prices today

MANILA, Philippines — Mixed adjustments will be made in the prices of fuel products today, oil companies said.

In separate advisories, oil firms said they will implement a P0.10 per liter increase in the price of gasoline, and a P0.10 per liter rollback in the price of diesel.

Prices of kerosene will also decline by P0.10 per liter.

Among the companies to implement the price adjustments at 6 a.m. today are Pilipinas Shell Petroleum Corp. SeaOil, Petro Gazz and Unioil Petroleum Philippines.

Meanwhile, CleanFuel said it will implement the price changes starting 8:01 a.m.

Other oil companies have yet to release advisories on price adjustments, as of writing.

This is the second week of mixed price adjustments by oil companies.

Last week, oil firms implemented a P0.20 per liter rollback in the price of diesel and a P0.15 per liter increase in the price of gasoline.

A P0.25 percent decrease was also made in the price of kerosene.

Oil prices dipped on Friday as producers as well as refiners avoided the impact of hurricane Laura which passed by Louisiana and Texas, the heart of the US oil industry, Reuters reported.

Brent crude futures LCOc1 fell $0.04 to settle at $45.05 a barrel, while the US West Texas Intermediate (WTI) crude CLc1 fell $0.07 to $42.97 a barrel.

On a weekly basis, both benchmarks posted gains of about 1.5 percent.