Inquirer photo/Ni帽o Jesus Orbeta
MANILA, Philippines 鈥� Oil companies will impose another round of mixed price movements this week, with only gasoline recording a hike effective on Dec. 10.
Based on separate advisories issued on Monday, Seaoil, Petro Gazz, CleanFuel and Caltex announced an increase of 40 centavos per liter in the price of gasoline.
The prices of diesel and kerosene, on the other hand, would be reduced by 50 centavos and 75 centavos a liter, respectively.
In an earlier statement, Rodela Romero, director of the Department of Energy鈥檚 (DOE) Oil Industry Management Bureau, said a potential hike in gasoline prices could be blamed on the ongoing geopolitical tension in the Middle East, particularly the strikes between Israel and Hezbollah.
She added that the decision of Opec+, which is composed of the Organization of the Petroleum Exporting Countries and allies led by Russia, to delay output increases could also influence price movements.
Last week, local oil companies also implemented a mixed price adjustment. The price of gasoline per liter went up by 90 centavos while the prices of diesel and kerosene decreased by 20 centavos and 40 centavos, respectively.
Data from the DOE showed that as of Dec. 5, the net increase in gasoline and diesel since January stood at P11.35 per liter and P9.55 per liter, respectively. As for kerosene, there has been a net decrease of P1.90 per liter in its price since the start of the year.