OIL companies implemented the “dagdag-bawas” price scheme in their petroleum products effective today.
Pilipinas Shell, one of the three oil giants in the country, Unioil Petroleum Philippines and Flying V, two independent oil industry players, spearheaded the announcement of the implementation of the “dagdag-bawas” price scheme.
Unioil and Flying V’s “dagdag-bawas” price scheme took effect at 12:01 today while Shell’s at 6 a.m.
The said oil companies pegged at P0.20 increase per liter in pump prices for their gasoline and P0.10 decrease in diesel.
Ina Soriano, Shell communication officer, in a text message, said pump prices for their kerosene will have a P0.15 per liter decrease.
Other oil companies have yet to announce their price adjustments.
The adjustment of prices in petroleum products was allegedly due to movement of oil prices in the world market.