10-centavo oil price adjustments set March 19

FILE: A gas attendant (left) fills the gas tank of a truck at a gas station in Tandang Sora on Mindanao Avenue, Quezon City on Tuesday (Nov. 9, 2021). After 10 consecutive weeks of price increases, oil companies will roll back the prices of petroleum products. (PNA photo by Ben Briones)

MANILA – Minimal price adjustments on petroleum products are expected on Tuesday.

In separate advisories, Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell said they would increase gasoline prices by 10 centavos per liter while slashing diesel prices by 10 centavos per liter.

There will be no price movement for kerosene.

Other local oil industry players are also expected to implement the same rate of price adjustments.

Last week, oil firms implemented a rollback on pump prices.

With the price adjustments last week, Department of Energy data showed that year-to-date prices of gasoline and diesel stood at a net increment of PHP5.45 per liter and PHP3.80 per liter, respectively.

On the other hand, kerosene prices fell by 25 centavos per liter year-to-date.

On March 15, both Brent and West Texas Intermediate (WTI) closed the trading week lower by 0.47 and 0.42 percent, respectively.

Brent crude ended last week at USD85.02 per barrel from USD85.42 from the previous trading session while WTI closed last Friday at USD80.92 per barrel from USD81.26.