The oil companies raised the price of kerosene by P0.80 per liter and diesel by P0.25 per liter effective 6 a.m. on Tuesday, but cut the price of gasoline by P0.25 per liter.
They also cut the price of cooking gas by P0.30 per kilo, or P3.30 per 11—kilogram tank effective June 1.
Pilipinas Shell Petroleum Corp. said the latest price adjustments did not include the impact of the higher duties on pump prices from the imposition of Executive Order 113 imposing an additional 10-percent duty on all crude and refined petroleum products to help boost government revenues to fight the COVID-19 pandemic.
“The increase is in imported costs only. The additional 10-percent duty is not yet reflected,” Pilipinas Shell said.
Seaoil Philippines, Total Philippines, PTT Philippines, Petro Gazz, Flying V, Phoenix Petroleum and Eastern Petroleum also adjusted their prices.
On May 26, the oil firms implemented hefty price increases of P2.65 per liter of kerosene, P2.10 per liter of diesel and P1.75 per liter of gasoline. The adjustments followed strong optimism that demand would rise as many countries reopened.