Mixed oil price adjustments set Aug. 19

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MANILA – Oil companies will again cut diesel and kerosene prices but will hike gasoline prices on Tuesday.

In separate advisories on Monday, Seaoil and Caltex said prices of their diesel products will be decreased by PHP0.80 per liter, but gasoline prices will go up by PHP0.60 per liter by 6 a.m. and 6:01 a.m., respectively.

Seaoil said the price of its kerosene will also decline by PHP0.90 per liter.

Last week, Jetti Petroleum president Leo Bellas projected further reduction in diesel prices this week, partly due to slowing demand amid rising supply and the foreign exchange developments.

He said gasoline prices are expected to increase due to strong demand because of the summer season in some countries. (PNA)

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