Danessa Rivera (The Philippine Star)
- July 7, 2019 - 12:00am
MANILA, Philippines — Motorists will
see lower diesel but higher gasoline prices.
The price cut on diesel products was
led by Phoenix Petroleum Philippines, which reduced prices by P0.40 per liter
starting at noon yesterday.
Cleanfuel also rolled back diesel
prices by P0.40 effective 4:01 p.m. yesterday.
Unioil Petroleum Philippines said
motorists should expect a rollback on the prices of diesel and an increase on
gasoline on Tuesday.
“Diesel should decrease by P0.40 to
P0.50 per liter, while gasoline should increase by P0.20 to P0.25 per
liter,” it said in its weekly forecast.
Global crude prices fell for most of
the past trading week, pulled down by concerns over the outlook for global
economic growth which could also lower demand, Reuters reported.
Lower-than-expected decline in the
US crude stockpiles also dragged international prices.
Last week, oil companies raised
gasoline prices by P0.30 per liter, diesel by P0.55 and kerosene by P0.45 per
liter.
Year-to-date adjustments stand at a
net increase of P3.70 per liter for gasoline, P2.75 for diesel and P1.10 per
liter for kerosene, data from the Department of Energy showed.
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