OIL players raised diesel prices by P0.40 per liter but rolled back prices of kerosene by P0.55 per liter effective 6 a.m. Tuesday.
The oil firms, however, did not move gasoline prices.
“Seaoil will adjust its pump prices per liter effective 6 a.m., 20 March 2018 as follows: Gasoline no change, diesel increase of P0.40 per liter and kerosene rollback of P0.55 per liter,” the company said in its advisory.
Seaoil said this reflected movements in the international petroleum market.
Aside from Seaoil, PTT Philippines, Phoenix Philippines, Flying and Eastern Petroleum also implemented the price adjustments effective Tuesday.
World oil prices moved continuing increase in demand inspite of the strong global production output and reports of a rebound of the US manufacturing sector.
Speculations that Russia may out of its production cut deal with the Organization of Petroleum Exporting Countries at the end of the year also impacted on prices.
Last March 13, the country’s oil firms cut pump prices by P1.20 per liter for kerosene, P0.55 per liter per diesel and P0.35 per liter for gasoline
Year to date adjustment stands now at a net increase of P1.05 per liter for gasoline, P1.55 per liter for diesel and P1.35 per liter for kerosene.
Gasoline ranges from P46.87 to P56.77 per liter, diesel from P36.20 to P42.95 per liter and kerosene from P42.90 to P53.45 per liter.