MANILA, Philippines – Local oil firms have announced they will adjust the prices of diesel and gasoline starting Tuesday, July 9.
In separate advisories released over the weekend, oil companies said the price of diesel will be rolled back by P0.40 per liter but gasoline will increase by P0.25 a liter.
This is the fourth straight week that gasoline prices have spiked.
The adjustment will be implemented to reflect international market prices. Global crude prices dropped for most of the past trading week due to the outlook for global economic growth and possible lower demand.
Last week, oil firms raised gasoline prices by P0.30 per liter, diesel by P0.55 and kerosene by P0.45 a liter.
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