By Myrna M. Velasco
Motorists using diesel products for their vehicles will need to allot more for their fuel budgets this week because the price of this commodity will be up by ₱0.40 per liter.
In addition, the oil companies announced ₱0.60 per liter increase in the cost of kerosene products, while there had been no movement for gasoline products.
Most of the oil companies are expected to adjust prices at their pumps tomorrow (December 17), as had always been the usual course of price swings for the deregulated downstream oil sector.
The firms that already sent notices on price adjustments had been Pilipinas Shell Petroleum Corporation, Seaoil and PetroGazz, while the rest of the industry players are anticipated to follow.
As the year 2019 nears its end, oil prices have remained very volatile in the world market, which essentially have their spillover effect on adjustment of prices at the Philippine pumps.