Gasoline prices are being rolled back by P0.20 per liter this week, lower than the P0.40 per liter earlier calculation based on the movement of the Mean of Platts Singapore (MOPS) last week.
The price of diesel, on the other hand, increased by P0.20 per liter, based on the price adjustment notices sent by the oil companies.
As of press time, the oil firms that already advised on price adjustments had been Pilipinas Shell Petroleum Corporation, Cleanfuel, Seaoil and PetroGazz effective on Tuesday (May 18); while their rival-firms are anticipated to follow.
For Cleanfuel, in particular, it just implemented a rollback on gasoline; while there had been no increase on its diesel products.
Some of the oil firms justified that they implemented lower price rollback on gasoline this week because they are still recovering cost adjustments on ethanol that had been blended with their gasoline commodities retailed at the pumps. (MMV)