Oil prices are set for mixed movements this week, fuel firms announced on Monday.
In separate advisories, Seaoil, Jetti Petroleum and Petron Corporation said they will cut gasoline prices by PHP4.30 per liter but will hike diesel prices by PHP2.60 per liter effective 6 a.m. on Tuesday.
Seaoil and Petron will also slash kerosene prices by PHP1 per liter at the same time.
This week’s price adjustments are a turnaround from the trend for diesel in the past three weeks and for gasoline for the past two weeks.
Authorities and oil sector officials have projected a sustained rise in oil prices given the continued war in the Middle East, among others, that affect supply.
Department of Energy officials, however, assured the public that domestic supply remains adequate as both the government and the oil companies are able to secure supplies. (Joann Santiago-Villanueva/PNA)