Diesel prices up, kerosene down Tuesday

Oil firms on Monday announced a pump price hike for diesel after two consecutive weeks of downward adjustments, while rolling back kerosene prices for the second straight week.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. said they will roll back prices per liter of kerosene by P0.75, while hiking those of diesel by P0.10. There will be no changes for gasoline.

Cleanfuel, Petro Gazz, Phoenix Petroleum Philippines Inc., and Unioil Petroleum Philippines Inc.will implement the same changes, excluding kerosene which they do not carry.

The changes will take effect at 6 a.m. on Tuesday, December 19, 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.

The Department of Energy’s (DOE) Oil Industry Management Bureau (OIMB) earlier projected mixed movements for the week, citing higher supply than demand, the lingering geopolitical conflict, and production cuts.

Firms last week rolled back prices per liter of gasoline by P1.60, diesel by P1.85, and kerosene by P1.40.

Latest data available from the DOE indicate year-to-date net increases of P11.00 per liter for gasoline, P3.85 per liter for diesel, and P0.54 per liter for kerosene as of December 12, 2023.—AOL, GMA Integrated News