Motorists can expect a slight upward adjustment in oil prices this week after industry players imposed as much as 25-centavos in price hikes.
In separate advisories on Monday, Pilipinas Shell Petroleum Corp., Phoenix Petroleum Philippines Inc., Seaoil Philippines Inc., Petro Gazz Corp., Total Philippines Corp., and PTT Philippines Corp. all announced an increase of 25 centavos in every liter of gasoline, but will roll back the cost of diesel by 10 centavos.
Shell and Seaoil will also slash the cost of kerosene by 40 centavos per liter.
Adjustments from the companies are effective at 6 a.m. today, Tuesday.
Meanwhile, Shaw Autogas Inc., which holds the Cleanfuel brand, said it would also raise the cost of gasoline by 25 centavos and decrease diesel prices by 10 centavos but adjustments are effective at 12:01 a.m. on Wednesday.
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The adjustments reflect the movement of the international market.
As of press time, West Texas Intermediate crude declined by 0.79 percent or 43 centavos to $54.27 per barrel. Brent Crude, likewise, dropped 0.79 percent or by 48 centavos to $60.03 per barrel.
Locally, year-to-date adjustments stand at a net increase of P5.61 per liter for gasoline, P4.22 per liter for diesel and P1.61 per liter for kerosene.
