FOR the second straight week, gasoline and kerosene prices will go up once more, due to higher demand.
Oil companies issued separate advisories to announce that gasoline prices would increase by 90 centavos per liter and kerosene by P1.35 per liter on Tuesday, November 15.
But diesel prices would decline by 30 centavos per liter.
As of November 10, the price per liter of gasoline ranges from P60.20 to P70.95 liter in Quezon City, the largest city in Metro Manila.
Diesel prices range from P75.10 to P79.79 per liter in Makati City, the country’s top financial hub. In Manila, kerosene sells from P79.11 to P88 per liter.
Oil companies announce price adjustments every Monday and these are to be implemented on the morning of the following day.
The price adjustments are based on the movement of the Mean of Platts Singapore — the regional pricing benchmark adopted by the deregulated downstream oil sector.
Data from the Department of Energy show that the cumulative increase in gasoline price as of November 8 stood at P17.25 per liter, while for diesel it was P36.30 per liter and for kerosene, P28.6 per liter.
The Department of Transportations said in an advisory that the Asian gasoil crack retreated amid weakening East-West arbitrage economics as the impact of month-long strike actions at French refineries subsided.
It also said supply in the region was expected to rise as refiners in India gradually complete turnarounds.