Price of gasoline up P1.10 per liter, kerosene down by P0.35
MANILA -Local oil firms announced they would increase their gasoline prices by P1.10 per liter and roll back by 35 centavos per liter the price of kerosene effective Tuesday, May 30.
In separate advisories, the companies also said the price of diesel will have no movement.
Seaoil and Shell Pilipinas will be implementing the price adjustments at 6 a.m., Tuesday.
In an earlier radio interview, Rino Abad, director of the Department of Energy (DOE) Oil Industry Management Bureau, said the relatively hefty price increase for gasoline was due to high global demand.
This marks the third consecutive week of price hikes for gasoline, and the second week of price rollback for kerosene.
Last week, the pump price of gasoline rose by 80 centavos per liter, and diesel by 60 centavos per liter.
The price of kerosene, meanwhile, declined by 10 centavos per liter.
The DOE said this resulted in a year-to-date net decrease of P5.05 per liter for diesel and P6.40 per liter for kerosene.
Gasoline had a net increase of P5 per liter.