Price of gas up; diesel down in last week of May

Fuel retailers will impose minimal price adjustments starting Tuesday, May 27.

In separate advisories on Monday, Jetti Petroleum, Seaoil, PetroGazz, Cleanfuel and Caltex said the price per liter of gasoline would go up by 10 centavos. Diesel and kerosene, on the other hand, will be cheaper by 20 centavos and 40 centavos per liter, respectively.

Rodela Romero, assistant director of the Department of Energy’s Oil Industry Management Bureau, earlier said the possible rollback may be attributed to the reported progress in the US-Iran nuclear deal, as well as the “cooling” China-US trade war.

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She also cited the continuing optimism of the Organization of the Petroleum Exporting Countries “about global oil demand growth despite economic risks.”