OIL companies will implement price adjustments on fuel products by less than P1 per liter starting 12:01 a.m. of October 17.
Caltex, Cleanfuel, Jetti, Petro Gazz, Phoenix Petroleum, PTT, Seaoil, Shell, and Unioil said they will increase gasoline prices by P0.55 per liter while reducing diesel prices by P0.95 per liter.
The oil firms issued separate advisories on Monday.
Caltex, Seaoil, and Shell will also slash kerosene price by P0.95 per liter.
The price adjustments comes after the Department of Energy (DOE) told motorists to “manage their expectations” amid the Gaza-Israel conflict.
According to the DOE, “we have no control on the supply and prices of oil in the international market.”
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