Gasoline, diesel, kerosene prices up Tuesday after several weeks of rollbacks

Motorists will be greeted with higher pump prices of petroleum products on Tuesday, following seven weeks of rollbacks implemented in the country.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Inc. said they will hike prices per liter of gasoline by P0.70, diesel by P2.60, and kerosene by P2.80.

Cleanfuel, Petro Gazz, Phoenix Petroleum Philippines Inc., 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, August 23, for all the firms except Cleanfuel which will adjust prices at 4:01 p.m., and Caltex at 12:01 a.m. the same day.

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

Department of Energy Oil Industry Management Bureau (DOE-OIMB) Assistant Director Rodela Romero last week attributed the increase to the sharp decline in the crude inventories of the United States.

Latest data available from the DOE show that year-to-date total adjustments stand at a net increase of P17.45 per liter for gasoline, P29.10 per liter for diesel, and P24.30 per liter for kerosene as of August 16, 2022.—AOL/BM, GMA News