Shell, Seaoil’s price for premium unleaded gasoline to go up; diesel, kerosene to go down | Inquirer Business

Shell, Seaoil’s price for premium unleaded gasoline to go up; diesel, kerosene to go down

By: - Reporter / @amyremoINQ
/ 11:41 PM August 01, 2011

MANILA, Philippines—Pilipinas Shell Petroleum Corp. and Seaoil Philippines are raising prices of premium unleaded gasoline by 20 centavos a liter, effective Tuesday.

At the same time, the two oil companies have slashed prices of diesel by 50 centavos a liter and of kerosene, by 25 centavos a liter, to reflect the movements of oil prices in the global market.

Eastern Petroleum Corp., meanwhile, announced a 25-centavo-a-liter hike in premium gasoline and a similar 50-centavo-a-liter rollback on diesel, effective Tuesday.

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Energy Undersecretary Jose Layug Jr. explained that the mixed movements in global oil prices are due to various factors, including the continued conflict in the oi- producing countries in the Middle East and even movements in the US and European economies.

“Prices have become so volatile in 2011 that any one incident will result in a price movement,” Layug explained.

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TAGS: Consumer Issues, Eastern Petroleum Corp., gas price hikes, oil and gas, Pilipinas Shell Petroleum Corp., Seaoil Philippines

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