AFTER seven straight weeks of price increases, the cost of gasoline this week will decline by P0.10 per liter along with the prices of diesel and kerosene.
In their advisories on Monday, oil companies said the price cut will take place at 6:00 a.m. on Tuesday, April 2. Diesel will fall P0.30 per liter, while kerosene by P0.20 per liter.
Diesel prices have been on the rise for most weeks so far this year, except for the rollback on the first week of February and March. The same price behavior was seen in kerosene.
As in the past, the oil companies said local prices follow the movement of prices in the international market.
With this week’s increase, the year-to-date adjustment in the price of gasoline stands at a net increase of P6.65 per liter, while the price of diesel is at a net increase of P3.25 per liter.
Pilipinas Shell Petroleum Corp. was the first to issue an advisory on Sunday. As of Monday afternoon, the other companies that sent their advisories include PTT Philippines Corp., Total Philippines Corp., Phoenix Petroleum Philippines, Inc., Eastern Petroleum Corp. and Seaoil Philippines, Inc.
Last week, the prices of gasoline, diesel and kerosene increased by P0.65, P0.10 and P0.10 per liter, respectively.
Separately, Petron Corp. and Eastern Petroleum said on Monday that the price of liquefied petroleum gas (LPG) increased this month.
Eastern Petroleum raised the cost of its cooking LPG by P1.24 per kilogram or by P13.64 for an 11-kilogram cylinder. Petron increased its LPG prices by P1.25 per kilogram. It also hiked the price of AutoLPG by P0.70 per liter.
“These reflect the international contract price of LPG for the month of April,” Petron said. — Victor V. Saulon
