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MANILA – Oil companies will be implementing another round of price adjustments on petroleum prices starting Tuesday.
In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will increase gasoline prices by PHP0.90 per liter, and will slash diesel prices by PHP0.30 per liter.
Caltex, Seaoil, and Shell will also have an increment of PHP1.35 per liter on kerosene prices.
Other local industry players are expected to follow suit.
Oil firms implemented price adjustments last week, with big-time price hike on gasoline prices and minimal rollbacks for diesel and kerosene products.
With the adjustment in the previous week, net increase in gasoline prices for this year stood at PHP27.20 per liter; diesel prices, up by PHP43.30 per liter; and kerosene prices, up by PHP34.65 per liter.
The United States Energy Information Administration data showed that United States crude inventory jumped higher than the expected levels last week, pumping additional supply in the market while China's policy on coronavirus disease 2019 (Covid-19) has tamed demand. (PNA)
