Mixed path for PH fuel rates: Gas prices expected to go up, diesel to go down

Oil prices take different paths this week as supply issues linger due to Middle East developments.

In separate advisories, Jetti Petroleum and Petron Corporation said they will cut diesel prices by PHP1.30 per liter but increase gasoline prices by PHP1.90 per liter, effective 6 a.m. Tuesday.

Petron said it will also raise kerosene prices by PHP3.30 per liter.

Seaoil will reduce diesel prices by PHP1.30 per liter, increase gasoline price by PHP1.93 per liter, and kerosene by PHP3.30 per liter.

The hikes in some fuel products this week is contrary to the across-the-board reduction in oil prices last week.

An oil firm official earlier traced the easing of diesel prices to a supply boost by G7 nations, amidst strong demand and some tightness in China.