Danessa Rivera (The Philippine Star)
- October 15, 2019 - 12:00am
MANILA, Philippines — Oil companies
have implemented mixed price adjustments on fuel products today.
In separate advisories, oil firms
announced a price hike of P0.25 per liter on gasoline while diesel prices would
be reduced by P0.10 per liter and kerosene by P0.40 per liter.
Chevron Philippines (Caltex) and
Cleanfuel implemented their price adjustments starting 12:01 a.m.
Flying V, PetroGazz, Phoenix
Petroleum, Pilipinas Shell Petroleum Corp. and PTT Philippines said their price
movements were effective 6 a.m.
In the world market, international
oil prices started the trading week on a weak note as hopes for a US-China
trade deal faded, which raised uncertainties for global economic growth and oil
demand, Reuters reported.
But on Thursday, oil prices gained
ground as the Organization of Petroleum Exporting Countries (OPEC) vowed to
decide by December on its plan to further cut production to balance the market.
Last week, local oil firms
implemented reductions of P0.80 per liter on gasoline, P1 per liter on diesel
and P1.15 per liter on kerosene.
Following these adjustments,
year-to-date adjustments stand at a net increase of P5.61 per liter for
gasoline, P4.22 per liter for diesel and P1.61 per liter for kerosene, latest
Department of Energy data showed.
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