Petron to Increase Pump Prices by P1.15/liter for Kerosene, Gas; P1.50/liter for Diesel

Petron Corporation will increase pump prices by Php1.15 per liter of kerosene and gasoline, while Php1.50 per liter of diesel to take effect early morning Tuesday.

According to the Department of Energy’s (DOE) oil price monitor in Metro Manila, as of Feb. 10, a liter of diesel is sold at Php25.60-Php30.64, while gasoline is offered at Php35.80-Php43.00 a liter.

Petron said the price change reflects international oil market prices.

On Monday, West Texas Intermediate (WTI) crude oil will be playing between US$ 52.10 – US$ 53.69 per barrel for its March delivery.

WTI crude oil has reached the US$ 51.21 per barrel last Thursday.

However, the momentary gain may still fall due to the oil market oversupply, attributed mainly to shale oil producers. (PNA) LGI/JLD/EDS