Mixed price adjustments: Gasoline up, kerosene down
There will be mixed fuel price adjustments starting Tuesday, Oct. 14, with only the price of gasoline going up.
In an advisory on Monday, Jetti Petroleum and Seaoil said that they would hike the price of gasoline per liter by 30 centavos.
“Gasoline remained supported due to an uptick in domestic demand from China and India, and healthy spot demand from Indonesia,” Jetti Petroleum president Leo Bellas said earlier.
Total net increases
Kerosene, on the other hand, will be cheaper by 20 centavos a liter while the price of diesel will remain unchanged for the week.
Data from the Department of Energy said that as of Oct. 7, the total net increases for gasoline, diesel and kerosene already stand at P14.90, P17.85 and P5.65 per liter, respectively.
Last week, local fuel retailers also implemented increases, with the prices of diesel and kerosene going up for the seventh straight week by 80 centavos and 20 centavos per liter, respectively.
Gasoline prices, on the other hand, went up by 20 centavos a liter.
Industry sources attributed the hikes in prices last week to the market’s fears of supply shortfalls, especially amid Russia’s partial diesel export ban.
