OIL companies will increase the price of gasoline and reduce diesel and kerosene prices.
In separate advisories, the oil firms said a P0.35-per-liter price hike will be implemented on gasoline products. Diesel and kerosene prices, on the other hand, will go down by P0.10 per liter each.
The price adjustment of Seaoil Philippines, PetroGazz, Phoenix Petroleum, Total Philippines, Pilipinas Shell and PTT Philippines takes effect at 6 a.m., Tuesday, February 18.
Other oil companies are expected to announce soon a similar price adjustment.
The price adjustment reflects movements in the world oil market.
This is the sixth consecutive week of price rollback for diesel and kerosene.