MANILA - Oil companies are set to implement price adjustments, effective 6 a.m. today.
In an advisory yesterday, Seaoil said it will increase gasoline price by P0.80 per liter but reduce diesel price by P0.30 per liter, and kerosene by P0.20 per liter.
Petron Corporation earlier announced similar price adjustments.
Petro Gazz followed suit, slashing its gasoline price, also by P0.80 per liter, but reduced its diesel price by P0.15 per liter.
Meanwhile, the peso ended sideways against the US dollar but the Philippine Stock Exchange index (PSEi) ended on the red still on trade-related issues.
The local currency finished the week’s first trading day at 50.66 from 50.65 Friday. It traded between 50.69 and 50.57, resulting in an average of 50.618.
Volume reached USD884.8 million, down from USD1.12 billion at the end of last week.
The main equities index shed 0.66 percent, or 52.02 points, to 7,880.94 points.
All Shares index also registered a 0.66-percent drop, or 31.55 points, to 4,720.26 points.
Mining and Oil posted the highest drop at 2.20 percent, followed by the Property, 1.12 percent; Industrial, 0.66 percent; Financials, 0.57 percent; Holding Firms, 0.49 percent; and Services, 0.23 percent.
Volume reached 430.55 million shares, amounting to P4.32 billion.
Losers surpassed gainers anew at 128 to 52, while 51 shares were unchanged.*PNA
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