Oil firms hike diesel prices, slash gas pump prices Tuesday

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MANILA, Philippines—Local oil companies are implementing new price adjustments on Tuesday to reflect movements of prices in the international market.

Petron Corp., Chevron Philippines, Seaoil Philippines, Eastern Petroleum and Phoenix Petroleum Philippines have hiked prices of diesel by 25 centavos per liter and of kerosene by 30 centavos a liter. At the same time, these oil firms have also slashed prices of all gasoline products (premium and regular) by 45 centavos a liter.

Prior to this week’s oil price adjustments, diesel prices ranged from P38.25 to P41.19 a liter while gasoline products retailed for P48.65 to P54.64 a liter.

As of April 2, the year-to-date net increase in gasoline prices stood at 60 centavos a liter while net decrease for diesel prices stood at 95 centavos a liter.

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