Oil companies are expected to implement an upward adjustment in gasoline pump price, but will reduce the price of diesel and kerosene on Tuesday, August 15.
According to Phoenix Petroleum, Eastern Petroleum and Seaoil Philippines, the price of gasoline per liter will increase by P0.45.
They will reduce, meanwhile, the price of diesel by P0.10 per liter. Seaoil said it would also implement a price rollback of kerosene by P0.10 per liter.
The price adjustment, they said, will take effect at 6 a.m. of Tuesday.
“This is to reflect movements in the international petroleum market,” the oil companies added.
Other oil firms are expected to follow suit.
Last week oil firms implemented a big fuel price hike. Gasoline price went up by P1 per liter, diesel increased by P0.80 per liter and kerosene by P0.85 per liter.
