By Myrna M. Velasco
Consumers will be paying more for gasoline products this week as the price of this commodity had been up by ₱0.80 to ₱0.85 per liter, based on the pricing adjustment announcements of the oil companies.
For diesel, it had been a rollback of ₱0.15 per liter; and it goes the same way for kerosene products of which cost-per-liter had been pared by ₱0.15.
As of press time, the oil companies that already announced price adjustments include Pilipinas Shell Petroleum Corporation, Total Philippines, Cleanfuel, Seaoil, Phoenix Petroleum, Chevron and PetroGazz – and most are effective 6 a.m. on Tuesday (November 12).
The enforcement of price swings in the Philippine oil market is in keeping with the movement of prices in the world market – and this is done on a weekly basis.
In a span of seven weeks, this is the first time that prices of gasoline products had gone a bit higher – that was following a six-week respite on consumers’ pockets.