Pump prices of gasoline up, diesel down

Pump prices of petroleum products exhibited mixed movements on Tuesday as major oil exporters are expected to extend supply cuts. In separate advisories, local oil companies raised the price of gasoline by P0.30 per liter, while that of diesel declined by P0.30 per liter. The price of kerosene also increased by P0.20 per liter. CleanFuel and Caltex implemented the price adjustments at 12:01 a.m., followed by Petro Gazz, Seaoil and Shell at 6 a.m. According to the Department of Energy Oil Industry Management Bureau, the increase in gasoline prices was triggered by a “storm-related drop in Kazakhstan oil output, softer US dollar and decline in US inventories.” —Meg J. Adonis