Pump price update: Diesel, gas, kerosene up today

Pump price update: Diesel, gas, kerosene up today

MANILA: Oil prices trend up again starting today.

Total, Shell, Seaoil, PTT Philippines, Flying V, Petro Gazz, Petron, Unioil, Phoenix Petroleum, Chevron (Caltex), and Cleanfuel announced they are upping diesel prices by P0.20 per liter and gas prices by P0.60 per liter.

Kerosene prices of Shell, Flying V, Petron, Chevron, and Seaoil also hiked by P0.55 per liter.

In a Philippine News Agency report, Juwai IQI Global Chief Economist Shan Saeed said the international oil market in 2020 and 2021 would still be “very volatile and fragile” as macroeconomic stability becomes debatable and economic recovery appears to be uncertain. “In my view, oil prices would meander around US$45 to US$55 per barrel in 2020 and prices would meander around US$50 to US$65 per barrel in 2021.”

The economist highlighted worldwide developments that will have an effect on the future of global fuel prices, including the performance of the US currency that is moving towards tail-end risk and the more profound influence of geopolitics into the markets.

Photo from Shell

Also read: Pump price update: Diesel down by P1.55, gas drops by P1

 

 

Prim Lamaroza

Prim Lamaroza

Primrose Dianne A. Lamaroza (Prim Lamaroza) is one of the current content writers of Zigwheels Philippines. She writes news and feature articles for the automotive site. Prior to this, she has been involved in several freelance writing projects for American, British, Australian, and Filipino websites. She was able to write articles for numerous niches, which include real estate, lifestyle, food and drink, travel, health and wellness, science, education, and vocational jobs, among others. She also writes poems, short stories, and novels during her free time. She was able to publish two fiction novels since 2014 under the penname, Emerald Blake.

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