GASOLINE prices went up by P0.20 per liter for the seventh week but kerosene and diesel prices went down by P0.15 per liter and P0.10 per liter, respectively starting Tuesday to reflect the movement in world oil prices.
Pilipinas Shell Petroleum Corp., Seaoil Philippines, PTT Phoenix Petroleum, Flying V, Eastern Petroleum and Unioil Philippines issued their respective advisories of the price movement.
“Seaoil will adjust its pump prices per liter effective 6 a.m., Oct. 25, 2016, as follows: gasoline: increase of P0.20 per liter, diesel: rollback of P0.10 and kerosene: rollback of P0.15 per liter,” Seaoil said in its advisory.
Oil prices went up in the past weeks after the Organization of the Petroleum Exporting Countries announced to cut production in its effort to stimulate prices.
The move is the the first planned output cut in eight years to raise oil prices.