Minor oil price adjustments take effect today
Motorists will see mixed fuel price movements starting Jan. 6, with the price for gasoline dropping as those of diesel and kerosene go up.
In an advisory on Monday, Seaoil Philippines said effective 6 a.m. Tuesday, gasoline would become cheaper by 10 centavos per liter.
On the other hand, the prices per liter of its diesel would increase by 20 centavos and kerosene by 10 centavos.
Jetti Petroleum, meanwhile, announced that its DieselMaster would go up by 20 centavos per liter, while AccelRate gasoline and JX Premium gasoline would both be reduced by 10 centavos per liter, also effective Tuesday morning.
The company noted that price changes may vary in some locations.
Industry officials have warned that global developments could keep pump prices volatile in the coming weeks.
Jetti Petroleum president Leo Bellas said that recent geopolitical tensions in Venezuela could push premiums and freight rates higher, potentially driving local oil prices up more than initially estimated.
However, lingering global oversupply and rising diesel and gasoline output as major refineries ramp up production could temper further increases, he added.
