Gas prices up, diesel down this week

Gas prices will go up while those of diesel are poised to go down this week. REUTERS/Bing Guan/File Photo

MANILA, Philippines – Pump prices will have minimal, mixed adjustments in the last week of May, oil companies announced on Monday.

In separate advisories on Monday, Seaoil, PetroGazz, and Cleanfuel said the per-liter price of gasoline would inch up by 10 centavos.

READ: OPEC+ countries to open the oil taps despite price slump

Diesel and kerosene, meanwhile, will have price cuts of 20 centavos and 40 centavos, respectively.

Rodela Romero, assistant director of the Department of Energy-Oil Industry Management Bureau, earlier said the possible rollback can be attributed to the reported progress on US-Iran nuclear deal, as well as the “cooling” trade war between the US and China.

“OPEC remains optimistic about global oil demand growth despite economic risks,” Romero also cited as one of the factors influencing the potential price hike.