Gasoline prices to go up, diesel and kerosene to roll back effective Tuesday

Prices of gasoline will increase while those of diesel and kerosene will roll back on Tuesday, October 31, fuel companies announced on Monday.

Petron, Seoil, and Shell Pilipinas will hike gasoline prices by P0.45 per liter.

Diesel, on the other hand, will have a decrease in price per liter by P1.25, while the price of kerosene will go down by P1.20 per liter.

The price adjustments will take effect at 6 a.m. on Tuesday.

Cleanfuel and PTT Philippines will implement the same price adjustments for diesel and gasoline, effective 12:01 a.m. on October 31, excluding kerosene which they do not carry.

Jetti, Phoenix Petroleum, and Petro Gazz will hike its gasoline prices by P0.45 per liter and roll back diesel prices by P1.25 per liter, effective 6 a.m. on Tuesday.

Other fuel companies have yet to announce their price adjustments.

Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero earlier attributed the projected rollback in diesel and kerosene as well as the price hike in gasoline to the diplomatic efforts in the Middle East, which eased investor concerns on potential supply disruptions. 

The stronger US dollar could also “make oil more expensive for buyers in other currencies, leading to lower demand and lower prices,” he said.

Data as of October 26 showed the year-to-date adjustments in gasoline stood at a net increase of P13.75 per liter, while for diesel and kerosene the net increases amounted to P11.70 per liter and P6.24 per liter, respectively.

In Metro Manila, the prevailing retail prices of gasoline prices range from P58.35 to P76.89 per liter, diesel prices range between P59.00 and P72.05 per liter, while kerosene prices range from P76.25 to P89.39 per liter. —Joviland Rita and Ted Cordero/KG/KBK/RSJ, GMA Integrated News