Firms to adjust oil prices Tuesday

By Kris Crismundo

May 30, 2022, 7:24 pm

<p><em>(File photo)</em></p>

(File photo)

MANILA – Oil companies are set to implement price adjustments starting Tuesday.

In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT Philippines, Seaoil, and Shell will roll back gasoline prices by PHP1.70 per liter and will hike diesel prices by PHP1.20 per liter.

Caltex, Seaoil, and Shell will also increase kerosene prices by PHP2.45 per liter. Price rollback on kerosene last week will be offset with the price hike this week.

In the previous week, oil firms also slashed diesel prices while increasing gasoline prices.

Since the start of the year, prices of gasoline stood at a net increase of PHP24.80 per liter; diesel, up by PHP28 per liter; and kerosene, up by PHP24.25 per liter.

Last Friday, global oil price benchmarks closed higher as the outlook on supply remains tight amid strong demand for fuel. (PNA)