Gasoline up; diesel, kerosene down on Dec. 16
Pump prices will see slight movements starting Tuesday, with gasoline set for a modest increase while diesel and kerosene are due for small rollbacks, based on a fuel price advisory released on Monday.
In an advisory, Seaoil Philippines said it would raise gasoline prices by 20 centavos per liter, while diesel and kerosene prices would both be rolled back by 20 centavos per liter.
The adjustments will take effect across Seaoil stations nationwide at the scheduled time.
Jetti Petroleum president Leo Bellas earlier said global product markets mirrored the softening in crude oil prices as prospects for a Russia-Ukraine peace deal eased supply concerns.
Bellas noted that while this week’s average MOPS prices have eased compared with the previous week, the 36-centavo depreciation of the Philippine peso against the US dollar reduced the potential rollback in domestic prices next week.
“Also, the freight and premium components, while these have tapered down as well, are still elevated,” Bellas said.
Asian benchmarks have also weakened amid expectations of heavier product outflows from China and the return of several refineries from maintenance.
