Gasoline pump prices up for 5th straight week, diesel and kerosene for 2nd

Motorists will have to pay more for petroleum products this week, as retailers on Monday announced another round of hikes to mark the fifth straight week of increases for gasoline and the second for both diesel and kerosene.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Seaoil Philippines Corp., and Shell Pilipinas Corp. said they would hike prices per liter of gasoline by P0.50, diesel by P1.45, and kerosene by P0.75.

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

In an advisory, Shell Pilipinas Corp. said it would hike prices per liter of gasoline by P0.50, diesel by P1.45, and kerosene by P0.75.

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 24, for all the firms except for Cleanfuel which will hike prices at 4:01 p.m. the same day.

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

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected increases in pump prices of gasoline, diesel, and kerosene, citing the continuing armed conflict in the Middle East, and the production cuts by oil-producing countries.

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

This brought the year-to-date adjustments to a net increase of P12.55 per liter for gasoline and P8.95 per liter for diesel, and a net decrease of P2.55 per liter for kerosene as of December 17, 2022. —KG, GMA Integrated News