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Gasoline, kerosene prices slightly up, Cleanfuel bucked trend

Oil firm Cleanfuel bucked the trend even as most of its competitors have implemented slight upward adjustments in pump prices this week to the tune of P0.10 per liter for gasoline products, and P0.20 per liter for kerosene products.

MB file photo. (Mark Balmores)

Cleanfuel, which is among the preference retailers of the public transport sector, stepped up the competition by not implementing any adjustment on its gasoline and diesel prices this week.

For diesel products in particular, there had been no movement in prices this week in the industry, although some oil firms earlier calculated a possible rollback of P0.05 per liter.

Nevertheless, the oil companies noted that competitive forces took sway in pricing adjustments in the market, hence, they followed the trend set by their rival-firms.

As of this writing, the oil firms that already sent notices on their pricing adjustments included: Pilipinas Shell Petroleum Corporation, PetroGazz and Seaoil; while the rest of the industry players are anticipated to follow.

Movements of prices at the domestic pumps are being hinged on the swing of prices in the world market; albeit, it has been roughly steady in trading days last week.


Source: Manila Bulletin (https://mb.com.ph/2020/10/05/gasoline-kerosene-prices-slightly-up-cleanfuel-bucked-trend/?utm_source=rss&utm_medium=rss&utm_campaign=gasoline-kerosene-prices-slightly-up-cleanfuel-bucked-trend)

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