Local pump prices of diesel and gasoline will increase but the cost of kerosene will decline, effective today.
In separate advisories, Caltex, Cleanfuel, Petro Gazz, and Seaoil will increase diesel prices by P0.25 per liter.
Except for Cleanfuel, the same oil firms will hike gasoline prices by P0.15 per liter.
On the other hand, Caltex and Seaoil will roll back kerosene prices by P0.15 per liter.
Other oil companies are expected to follow suit.
According to OilPrice.com, crude prices in the world market began to recover on Friday as market optimism slowly returns. Department of Energy data show that gasoline prices in the country are currently P8.35 per liter higher than last year’s level, while diesel increased by P6.95 per liter, and kerosene prices had an increment of P6 per liter.*PNA