Kerosene price cut by P0.85/l; diesel up

Oil firms will implement a mixed price movement for their petroleum products effective 6 a.m. Tuesday to reflect the movements in the world market.

The firms rolled back the pump price of kerosene by P0.85 per liter but increased the price of diesel by P0.10 per liter. Gasoline prices did not change. Department of Energy (DOE) director for the Oil Industry Management Bureau Rodela Romero said this can be attributed to the lackluster demand in Asia particularly China and India, weaking position of the Organization of the Petroleum Exporting Countries and its allies.