Gasoline up for fourth straight week; diesel and kerosene for fifth

Motorists will again have to pay more for petroleum products which are now near P100 per liter, as oil firms announced another round of price hikes to mark the fourth straight week of increases for gasoline, and fifth for both diesel and kerosene.

In separate advisories, Chevron Philippines Inc. (Caltex),  Pilipinas Shell Petroleum Corp., and Seaoil Philippines Inc. said they will hike prices per liter of gasoline by P0.50, diesel by P1.65, and kerosene by P0.10.

Cleanfuel, Phoenix Petroleum Philippines Inc., and PTT Philippines Corp. will implement the same changes, excluding kerosene which it does they do not carry.

The changes will take effect at 6 a.m. on Tuesday, June 28, for all the firms except for Cleanfuel which will adjust prices at 8:01 a.m., and Caltex at 12:01 a.m. the same day.

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

Data from the Department of Energy (DOE) show that year-to-date adjustments stand at a net increase of P29.50 per liter for gasoline, P44.25 per liter for diesel, and P39.65 per liter for kerosene as of June 21, 2022.

Monitoring of the DOE showed that prices in Metro Manila ranged from P75.95 per liter (Pasig City) to P98.90 per liter (Muntinlupa City) for gasoline; from P81.55 per liter (Quezon City) to P98.00 per liter (Pasay City); and from P89.64 per liter (Manila) to P99.04 per liter (Taguig City) for kerosene as of June 23, 2022.

Energy Undersecretary Gerardo Erguiza Jr. last week said pump prices could hit P100 per liter should the weekly increases continue, due to a mix of factors including the global demand and the geopolitical tensions between Russia and Ukraine. — RSJ/KBK, GMA News