THE MOVEMENT of oil prices will be mixed this week, with gasoline registering the only increase at P0.30 per liter (/L), oil companies advised on Monday. Diesel will be unchanged after last week’s increase by P0.25/L. Kerosene prices, meanwhile, will be reduced by P0.20/L. Last week, gasoline rose by P0.15/L, while kerosene was unchanged. For most of the oil companies, the price changes will take effect at 6 a.m. today. This week’s price adjustments come as the Department of Energy (DoE) told the companies to submit by Friday their implementation plan on its directive to start selling Euro 2 diesel, which is cheaper per liter by around P0.28 to P0.30 than Euro 4, currently what is widely sold in the market. The move is also meant to foster competition, thus allowing fuel prices to go down and ease the nationwide inflation rate, the (DoE) said. — Victor V. Saulon
