The prices of diesel and kerosene will be rolled back on Tuesday while that of gasoline will be increased slightly. AFP FILE PHOTO
MANILA, Philippines—The prices of diesel and kerosene will be rolled back on Tuesday while that of gasoline will be increased slightly.
Local oil firms said they would implement a rollback of 40 centavos per liter for kerosene and 20 centavos per liter for diesel. Gasoline prices will rise by 10 centavos per liter.
Petron adjusted its prices effective 12:01 a.m. Tuesday and Shell at 6 a.m.
Independent player Phoenix Petroleum cut diesel prices by 20 centavos per liter and raised gasoline prices by 10 centavos per liter at 6 a.m.
Other oil firms have not made announcements but are expected to follow suit.
Year to date, there has been a net increase of 30 centavos per liter for gasoline and a net decrease of 65 centavos per liter for diesel.
Last week, oil and gas prices rose due to uncertainty over supplies in Europe after Russian state firm Gazprom threatened to suspend gas supplies to Ukraine in response to Western sanctions against Moscow for its military incursion into Crimea. Russia is one of the world’s largest oil and gas producers.—Riza T. Olchondra