Mixed oil price changes seen

Published October 14, 2019, 12:00 AM

by manilabulletin_admin

By Myrna M. Velasco

Pump prices will be on mixed bag of adjustments this week at the scale of P0.25 per liter increase for gasoline; while there is a meager rollback of P0.10 per liter for diesel products, according to the pricing advisory of the oil companies.

(Mark Balmores / MANILA BULLETIN)
(MARK BALMORES / MANILA BULLETIN FILE PHOTO)

Kerosene, which is another vital commodity in the homes of many Filipino consumers, will be reduced by a relatively heftier P0.40 per liter this week.

As of press time, the oil firms that already advised on price movements include Pilipinas Shell Petroleum Corporation, Cleanfuel and Seaoil effective on Tuesday (October 15).

This follows another week of rollback following the so-called ‘price spikes’ in September after the drone incident in Saudi Arabia, the world’s biggest oil producer.

The Department of Energy (DOE) had not been pleased with the initial magnitude of rollbacks enforced by the oil industry players two weeks ago – and it served them show cause orders (SCOs) to explain the disparity in the estimated price cuts.

Nevertheless, the energy department had not given details yet as to its final findings on that probe of the oil firm’s rollbacks.

 
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