Manila: Gasoline prices will be reduced effective Tuesday, but prices of diesel and kerosene will increase anew. In an advisory Monday, Seaoil, Jetti Petroleum, PTT Philippines, and Petron announced a decrease in the price of their gasoline products by PHP0.20 per liter, starting at 6 a.m.
According to Philippines News Agency, the prices of diesel and kerosene will see an increase of PHP0.90 per liter. Caltex is set to implement the same adjustments for its fuel products, beginning at 6:01 a.m. This change aligns with earlier projections by an executive from another oil company, attributing the adjustments to an adequate gasoline supply in the region, increased demand for diesel in Western countries, and the impact of global geopolitical developments.
Last week, fuel companies had implemented across-the-board hikes ranging between PHP0.80 to PHP1 per liter, marking the fifth occurrence of such increases.