Oil Firms To Hike Diesel Prices Tuesday

170301 – Chroma

Oil companies will increase diesel prices by 10 centavos per liter on Tuesday, following international market trends.

In separate advisories, Flying V, Seaoil Philippines Inc., Pilipinas Shell Petroleum Corp., PTT Philippines also said they would retain gasoline prices.

Petron, Shell and Flying V will also rollback kerosene prices by 15 centavos per liter.

Flying V and Petron Corp. will apply the price movements at 12:01 a.m., Tuesday, while Shell, Seaoil and PTT will change prices at 6 a.m.

According to the Energy Department’s oil monitor for Metro Manila, diesel prices currently range from Php 27.85-33.70 per liter, while it has a common price of Php 30.90 per liter.

Gasoline however has a price range of Php 39.50-48.60 per liter, while it has a common price of Php 46.68 per liter.

On Monday, oil market prices dropped due to higher exports from Iran despite the measures adopted by other oil producing countries to slash the global oil glut.

U.S. energy companies also increased its rigs for the tenth week in a row last week. (PNA) RMA/JLD/EDS