MANILA – Starting Tuesday, oil companies will implement a price increase of less than 50 centavos per liter.
According to separate advisories from Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell, gasoline and diesel prices will rise by PHP0.40 per liter.
Additionally, Caltex, Seaoil, and Shell will increase kerosene prices by PHP0.30 per liter.
Other industry players are expected to follow these adjustments.
Last week, the oil companies had mixed price changes, with a decrease in gasoline prices but increases in diesel and kerosene prices.
Data from the Department of Energy (DOE) revealed that as of last Tuesday, year-to-date price adjustments have resulted in net increments of PHP7.15 per liter for gasoline and PHP4.45 per liter for diesel.
Conversely, the year-to-date price for kerosene has seen a net decrease of PHP1.35 per liter.
(el Amigo/MNM)
MANILA — Anticipate a welcome relief for consumers next week as the Department of Energy-Oil Industry Management Bureau (DOE-OIMB) forecasts a rollback in gasoline, diesel, and kerosene prices.
Director III Rodela Romero provided estimated ranges for the rollback on April 30 based on 4-day trading data:
Gasoline: Expected decrease of P0.20 to P0.45
Diesel: Anticipated drop of P0.40 to P0.60
Kerosene: Projected drop of P0.70 to P0.90
However, final adjustments are subject to the Mean of Platts Singapore (MOPS) trading results on Friday, Romero stated.
The decline in oil prices can be attributed to reduced tensions between Iran and Israel, with Tehran signaling a lack of intent to retaliate against Israel’s recent strike.
Additionally, factors such as uncertain demand outlook and ongoing increases in US crude inventories contribute to the easing in oil markets.
Despite this positive development, Romero emphasized that energy analysts foresee continued volatility in oil prices.
(By el Amigo/MNM)
By Junex Doronio
MANILA — The Lenten season has not yet even started but consumers now have to brace themselves with their early “penitencia” (sacrifice ) as the prices of cooking gas are increasing again this March.
On Friday (01 March 2024), Petron announced the price of liquefied petroleum gas (LPG) would rise by P0.30/kg.
On the other hand, Solane also said it would increase LPG prices by P0.27/kg from Saturday (2 March 2024) starting at 6 a.m.
Meanwhile, the Department of Energy (DOE) on Friday said gasoline prices are also set to increase.
However, diesel and kerosene prices will go down next week based on four (4) days of mixed movement on the Mean of Platts Singapore (MOPS).
The DOE explained that the MOPS is the daily average of all trading transactions of diesel and gasoline as assessed and summarized by Standard and Poor’s Platts, a Singapore-based market wire service.
Rodela Romero, Director III of the Oil Industry Management Bureau, disclosed that gasoline prices could go up by P0.20-P0.45 per liter while diesel prices will go down P0.30-P0.60 per liter next week.
She added that kerosene prices will also go down P0.30-P0.50 per liter.
(el Amigo/MNM)