- CHERYL G. CRUZ
The price of diesel continues to decrease this week, at P0.60 per liter, but gasoline will increase by P0.75 per liter, the first upward adjustment following a four-week successive rollbacks.
A P2.05 per kg rollback in the LPG prices, meanwhile, will take effect midnight and AutoLPG prices will go down by P1.15 per liter, inclusive of the value-added tax, Petron Corp. announced Monday.
Caltex said that effective 12:01 a.m. Tuesday, August 2, the price of platinum and silver with techron will increase by P0.75 per liter, while its diesel will go down by P0.60/liter, and kerosene by P0.75/liter.
Unioil, Petron, and other companies will implement similar price adjustments at 6 a.m. Tuesday, to reflect changes in the international oil market.
Oil companies implemented a price decrease in gasoline by P0.40 per liter, diesel by P1.85 per liter, and kerosene by P1.30 per liter, as of July 26.
Since the start of this year, the price of gasoline logged a net increase of P18.90/liter, P32.95 liter for diesel, and P28.05/liter for kerosene.
Meanwhile, Petron Corp. reported a consolidated net income of P7.7 billion, double last year’s P3.87 billion as the country’s largest oil company, and only remaining refiner continued to emerge stronger from the pandemic.
Sales volumes consistently increased amid recovering demand and waning pandemic concerns with first semester sales showing double-digit growth from last year, the company said.
“Our post-pandemic transition has, so far, been marked by steady growth, particularly in segments where we suffered major setbacks earlier during this crisis,” Petron president and CEO Ramon Ang, said in a statement Monday. “We move forward with hope and optimism as we roll out projects that will not only yield optimal returns for the company but more importantly, lead towards greater sustainability and create economic opportunities for more sectors.”/CGC
