Fuel Prices

MANILA, Philippines - Four oil companies followed yesterday the lead of oil giants Pilipinas Shell and Petron Corp. in enforcing an up-and-down adjustment on pump prices.

Major player Chevron Philippines (formerly Caltex) and small player Seaoil Philippines yesterday raised prices of unleaded gasoline by P0.30 per liter, but rolled back prices of diesel by P0.50 per liter, kerosene by P0.40 per liter and regular gas by P0.30 per liter.

Reflecting the same price movement, save for kerosene, was Total Philippines.

Another small oil player, Phoenix Petroleum Philippines, reduced its diesel price by P0.50 per liter. It however hiked gasoline prices by P0.30 per liter.

The mixed price adjustment came right after Holy Week, which incidentally saw Eastern Petroleum Philippines and Flying V roll back diesel prices by P0.50 and gasoline product prices by P0.20.

Both oil firms have not announced price movements for this week.

Only two fuel price rollbacks have been implemented so far this year, if one is to exclude the Holy Week rollback which was only enforced by two small players.

Petroleum prices, as far as the first quarter of the year is concerned, have been on the climb thanks to 10 almost successive price hikes.

The average price of diesel in Metro Manila stands at P47 per liter while gasoline and kerosene are pegged at P57 per liter.