Metro Manila, Philippines – Oil companies implemented a mixed movement in fuel prices on Tuesday, Sept. 30.
In separate announcements on Monday, Caltex, Cleanfuel, Jetti Petroleum, Phoenix Petroleum, and Seaoil said gasoline prices will decrease by P0.20 per liter while diesel will increase by P0.90 per liter.
Caltex and Seaoil said kerosene prices will go up by P0.90 per liter.
The mixed movement came after five consecutive weeks of price hikes in fuel products.
The Department of Energy (DOE) earlier said that the mixed movement this week may be attributed to a bullish oil market due to heightened geopolitical risks, but at the same time, additional global oil supplies after Iraq resumed oil exports via pipeline to Turkey.
The DOE said recent risks were brought by US President Donald Trump’ s speech telling European nations to “immediately” stop buying Russian energy or they will face tariffs.
