(UPDATE) Oil firms to cut diesel, kerosene but to hike gasoline prices anew

ABS-CBN News

Posted at Feb 02 2009 06:50 PM | Updated as of Feb 03 2009 03:51 AM

Oil companies on Monday announced price adjustments on its petroleum products effective Tuesday.

Chevron Philippines (formerly Caltex), Seaoil. Eastern Petroleum and Pilipinas Shell Corporation announced a reduction in the pump prices of its diesel products by P0.50 per liter. Chevron, Seaoil and Pilipinas Shell also said pump prices for its kerosene products would be reduced P1 per liter.

At the same time, the four oil firms also announced P0.50 per liter increases in the prices of its respective gasoline products.

The adjustments in pump prices are set to take effect 12:01 a.m. Tuesday.

Meanwhile Pilipinas Shell also announced a P2 per kilogram in the prices of its liquefied petroleum gas (LPG) products.