Gasoline, diesel, kerosene prices up by over P1/liter in third straight week of hikes

Motorists will have to pay more for petroleum products starting Tuesday, as oil firms on Monday announced another round of hikes to mark the third straight week of increases.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. said they will hike prices per liter of gasoline by P1.30, diesel by P1.00, and kerosene by P1.35.

Cleanfuel, PetroGazz, and PTT Philippines Corp. will implement the same adjustments, excluding kerosene which they do not carry.

The changes will take effect at 6 a.m. on Tuesday, January 31, for all the firms except for 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.

Firms last week hiked prices per liter of gasoline by P2.80, diesel by P2.25, and kerosene by P2.40.

Latest data available from the Department of Energy (DOE) show that year-to-date net increases stood at P5.90 per liter for gasoline, P2.05 per liter for diesel, and P3.20 per liter for kerosene. — RSJ, GMA Integrated News