MANILA — 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 at 6:00 a.m. on 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.