Gasoline up P3.95; diesel and kerosene down Tuesday, May 24, 2022

Local oil firms will implement another major hike in prices of gasoline, while rolling back prices of diesel and kerosene for the second straight week.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. said they will increase prices per liter of gasoline by P3.95, and slash diesel by P2.30, and kerosene by P2.45.

Cleanfuel, Petro Gazz, Phoenix Petroleum Philippines Inc., PTT Philippines Corp., Total Philippines Corp., and Unioil Petroleum Philippines Inc. will implement the same changes, excluding kerosene which they do not carry.

The adjustments will take effect at 6 a.m. on Tuesday, May 24, 2022 for all the firms except for Caltex at 12:01 a.m., and Cleanfuel at 8:01 a.m. the same day.

Other firms have yet to make similar announcements for the week.

Domestic pump prices have so far been on an uptrend for most of the year, with only six rollbacks implemented in 2022.

Latest data available from the Department of Energy (DOE) show that year-to-date adjustments stand at a net increase of P22.00 per liter for gasoline, P34.50 per liter for diesel, and P29.75 per liter for kerosene as of May 10, 2022. — RSJ, GMA News