Gasoline prices up for third straight week Tuesday; diesel and kerosene down

Pump prices of gasoline will be hiked for the third straight week on Tuesday, while those of diesel and kerosene will be rolled back.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Corp. said they will hike prices per liter of gasoline by P0.45, while reducing those of diesel by P0.60, and kerosene by P1.05.

Cleanfuel, Petro Gazz, PTT Philippines Corp., 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, April 2, 2024 for all the firms, except for Cleanfuel which will implement the changes at 12:01 a.m. the same day.

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

The latest announcements are in line with earlier projections made by an oil industry source, citing the Mean of Platts Singapore (MOPS) trading, or the daily average of all transactions of gasoline and diesel as assessed and summarized by Standard and Poor’s Platts.

Firms last week hiked prices per liter of gasoline by P2.20, diesel by P1.40, and kerosene by P1.30.

Latest data from the DOE show that year-to-date adjustments stood at a per liter net increase of P7.75 for gasoline, P5.10 for diesel, and P1.05 for kerosene as of March 26, 2024. — RSJ/AOL, GMA Integrated News