Diesel price cut this week, gasoline up

FOR THE third straight week this month, oil companies will be raising the price of gasoline but at a lower rate of increase at P0.30 per liter (/L) compared with the previous weeks. Diesel, on the other hand, will be down by P0.15/L, while kerosene will be unchanged after last week’s P0.70/L hike. All the companies that sent their advisories as of 5:00 p.m. on Monday said they would be implementing the price adjustment at 6:00 a.m. on Tuesday, July 17. “This is to reflect movements in the international petroleum market,” said Seaoil Philippines, Inc. Last week, the per liter price of gasoline and diesel both went up by P0.40 and P0.35, respectively. — Victor V. Saulon