Diesel, kerosene up; gasoline down by P1.70/liter Tuesday

Oil firms are set to hike pump prices of diesel and kerosene this week, while rolling back those of gasoline.

In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. said they will cut down prices per liter of gasoline by P1.70, while hiking diesel by P1.20 and kerosene by P2.45.

Cleanfuel, Petro Gazz, PTT 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 31, 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 seven weekly 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 P25.55 per liter for gasoline, P29.10 per liter for diesel, and P25.20 per liter for kerosene. —Jon Viktor D. Cabuenas/KBK, GMA News