Gasoline prices up for 9th straight week; diesel and kerosene for 10th

Pump prices of fuel products will be hiked anew on Tuesday, marking the ninth straight week of upward adjustments for gasoline, and the tenth for both diesel and kerosene.

In separate advisories, Flying V, Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Corp. said they will hike prices per liter of gasoline by P0.20, diesel by P0.40, and kerosene by P0.20.

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, September 12, for all the firms at 4:01 p.m. the same day.

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

Last week, firms hiked prices per liter of gasoline by P0.50, diesel by P1.20, and kerosene by P1.10.

The Department of Energy’s (DOE) Oil Industry Management Bureau (OIMB) earlier projected price hikes this week due to worries about a potential supply shortage during the peak winter demand as Saudi Arabia and Russia extended their voluntary supply cuts until the end of the year.

Latest data available from the Department of Energy (DOE) indicate year-to-date net increases of P15.30 per liter for gasoline, P10.70 per liter for diesel, and P7.74 per liter for kerosene as of September 5, 2023.—AOL, GMA Integrated News