OIL companies will raise the price of gasoline by 25 centavos per liter, but will roll back the cost of diesel and kerosene by 20 centavos per liter and 35 centavos per liter, respectively. Cleanfuel, Flying V, Petro Gazz, Pilipinas Shell and Seaoil announced that they would adjust their pump prices today, Tuesday. Last week, the price of diesel dropped by 30 centavos per liter, gasoline by 25 centavos per liter and kerosene by 15 centavos per liter. This brings the total year-to-date adjustments to a net decrease of P5.02 per liter for gasoline, P8.59 per liter for diesel and P12.69 per liter for kerosene, based on the Department of Energy’s (DoE) weekly monitoring. “That is even too much kasi nga iyong requirement nga natin before is only 15 [days] for finished product, 30 days for refineries and seven days for LPG (That is even too much because [the Department of Energy] requires maintaining a minimum product inventory of 15 days for finished products, 30 days for refineries and seven days for liquefied petroleum gas products),” he said.

Source: Manila Times August 10, 2020 18:04 UTC