In brief
On Tuesday, Manila oil firms such as Shell, Seaoil, PetroGazz and Jetti Petroleum raised gasoline prices by 3.50 pesos per litre and cut diesel by 1 peso per litre and kerosene by 1.90 pesos per litre, according to Xinhua. The change follows last week's opposite adjustments that saw gasoline dip by 0.30 pesos and diesel and kerosene rise by 1.20 and 0.50 pesos respectively. The moves highlight the Philippine market’s sensitivity to international fuel fluctuations.
Tuesday, oil firms in Manila raised gasoline prices by 3.50 pesos per litre while cutting diesel and kerosene, according to the reporting outlet Xinhua.
The companies involved were Shell, Seaoil, PetroGazz and Jetti Petroleum, each lifting gasoline and reducing diesel by 1 peso per litre, with Shell and Seaoil also trimming kerosene by 1.90 pesos per litre.
These adjustments follow the previous week’s opposite movements, when gasoline fell by 0.30 pesos per litre while diesel and kerosene rose by 1.20 and 0.50 pesos respectively, the report said.
The Philippine market’s reliance on imported energy and limited domestic refining capacity makes local fuel prices highly vulnerable to shifts in the global market, Xinhua added.