Gasoline, diesel prices up for 5th straight week, kerosene for second

Oil firms announced on Monday another round of pump price hikes, marking the fifth straight week of upward adjustments for both gasoline and diesel, and the second for kerosene.

In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Corp. said they will hike prices per liter of gasoline by P0.75, diesel by P1.50, and kerosene by P0.80.

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

The adjustments will take effect at 6 a.m. on Tuesday, February 6, for Shell, and at 4:01 p.m. the same day for Cleanfuel and at 12:01 a.m. for Caltex..

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

The adjustments are in line with projections made by the Department of Energy’s (DOE) Oil Industry Management Bureau (OIMB), citing drone attacks and fires to oil facilities of Russia, and proposals to extend the production cut of the Organization of the Petroleum Exporting Countries (OPEC) and its partners.

Firms last week hiked prices per liter of gasoline by P2.80, diesel by P1.30, and kerosene by P0.45.

Latest data available from the DOE indicate year-to-date net increases of P4.40 per liter for gasoline and P2.90 per liter for diesel, and a net decrease of P0.05 per liter as of January 30. —KG/RF, GMA Integrated News