Mixed oil price movements seen in 2nd week of December

MANILA -- Prices will increase for gasoline and go down for diesel and kerosene in the second week of December. 

Petrolem companies announced the following changes in pump prices effective December 10, Tuesday:

SHELL PILIPINAS, SEAOIL, CALTEX (effective 6 a.m.)
Gasoline - P0.40/liter increase
Kerosene - P0.75/liter decrease
Diesel - P0.50/liter decrease

PETROGAZZ, JETTI PETROLEUM (effective 6 a.m.)
Gasoline - P0.40/liter increase
Diesel - P0.50/liter decrease

CLEANFUEL (effective 12:01 a.m.)
Gasoline - P0.40/liter increase
Diesel - P0.50/liter decrease

The mixed price movement is demand-driven, Department of Energy Oil Industry Management Bureau Director Rodela Romero said.

“It so happened na mas mataas ang demand sa gasoline kumpara sa diesel. Tayo po ma-diesel, pero may malalaking bansa na ang ginagamit ay gasolina,” she told TeleRadyo Serbisyo. 

The conflict between Israel and Hezbollah and the decision of some-oil producing countries to extend supply cuts also influenced prices, the official said.