Gasoline, diesel, kerosene prices up for 2nd straight week Tuesday

Motorists will again have to pay more for petroleum products this week, as oil firms on Monday announced another pump price hike to mark the second straight week of upward adjustments.

In separate advisories, Seaoil Philippines Corp. and Shell Pilipinas Corp. said they will hike prices per liter of gasoline and kerosene by P0.80 each, and diesel by P0.90.

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, January 14, 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 pump price hikes this week, citing declines in production data, the growth in employment in the United States, the anticipated rise in Asian demand, and states of emergency in US and Europe due to cold blasts.

Firms last week hiked prices per liter of gasoline and kerosene by P1.00 each, and diesel by P1.40.

Adjustments in 2024 stood at a net increase of P12.75 per liter for gasoline and P11.00 per diesel, and a net decrease of P2.70 per liter for kerosene.—AOL, GMA Integrated News