By Myrna M. Velasco
After series of rollbacks in the past weeks, consumers will experience “up and down” swing in prices at the petroleum pumps this week.The oil companies have announced ₱0.35 per liter increase in the price of gasoline products; and ₱0.10 rollback in diesel and kerosene prices.
As of press time, the industry players that already enforced cost movements in their products had been Pilipinas Shell Petroleum Corporation, Seaoil, Cleanfuel, PetroGazz, Total, PTT Philippines and Phoenix Petroleum – mostly effective 6 a.m. today (February 18).
Following precipitous slide in global prices after the novel coronavirus outbreak last month, trading in international markets had been conversely steady last week, as noted by analysts and market watchers.
Philippine pump prices are adjusted weekly depending on the movement of prices in the world market.