Gasoline pump price hike set Tuesday; rollback for diesel and kerosene

Pump prices of gasoline will be increased for the second straight week starting Tuesday, while those of diesel and kerosene will be rolled back.

In separate advisories, Chevron Philippines Inc. (Caltex), Seaoil Philippines Corp., and Shell Pilipinas Corp. said they will hike prices per liter of gasoline by P0.90, while rolling back those of diesel by P0.20, and kerosene by P0.40.

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

The adjustments will take effect at 6 a.m. on Tuesday, December 3, for all firms except for Cleanfuel which will adjust prices at 4:01 p.m. the same day.

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected mixed movement this week week, citing the steadying of crude amid a US-brokered ceasefire between Israel and Hezbollah, the downward trajectory of consumption in China, and sustained production cuts.

Firms last week hiked prices per liter of gasoline by P1.15, diesel by P1.10, and kerosene by P0.80.

This brought year-to-date adjustments to a net increase of P10.45 per liter for gasoline and P9.75 per liter for diesel, and a net decrease of P1.50 per liter for kerosene as of November 26, 2024.—AOL, GMA Integrated News