Gasoline and diesel prices up for 2nd straight week Tuesday; kerosene for first

Fuel retailers on Monday announced another round of upward adjustments of pump prices, marking the second straight week of hikes for both gasoline and diesel, and first for kerosene.

In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., Seaoil Philippines Corp., Shell Pilipinas Corp., and Unioil Petroleum Philippines Inc. said they will increase prices per liter of gasoline by P0.45, diesel by P0.90, and kerosene by P0.30.

Cleanfuel, Petro Gazz, and PTT Philippines Corp. will implement the same changes, excluding kerosene which they do not carry.

The adjustments will take effect at 6 a.m. on Tuesday, October 1, for all the firms, except for Cleanfuel which will hike prices at 4 p.m. the same day.

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

The latest announcements are in line with projections made by the Department of Energy-Oil Industry Management Bureau (DOE-OIMB), citing uncertainty in supply due to the escalation of tensions in the Middle East, China’s latest economic stimulus, and the US crude inventory draw.

Firms last week hiked prices per liter of gasoline by P1.10 and diesel by P0.20. There were no changes for kerosene.

This brought year-to-date adjustments to a net increase of P5.85 per liter for gasoline and P1.95 per liter for diesel, and a net decrease of P6.35 per liter for kerosene as of September 24, 2024.—AOL/RSJ, GMA Integrated News