• Pump prices of petroleum products will have a mixed movement on Tuesday, Dec. 5, as major oil exporters are expected to implement supply cuts.
  • In separate advisories, local oil companies said they the price of gasoline would climb by P0.30 per liter, while diesel would roll back by P0.30 per liter. The price of kerosene will also increase by P0.20 per liter.
  • According to the Department of Energy (DOE) Oil Industry Management Bureau, the increase in gasoline prices was triggered by a “storm-related drop in Kazakhstan oil output, softer US dollar and decline in US inventories.”