Gasoline, diesel prices up over P1/liter on Tuesday

Motorists will be met with fuel price hikes effective Tuesday, April 9, 2024, as companies announced another round of upward adjustments to mark the fourth straight week of increases for gasoline.

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 P1.10, diesel by P1.55, and kerosene by P1.40 per liter.

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

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

The latest announcements are in line with projections made by the Department of Energy’s (DOE) Oil Industry Management Bureau, citing fears of a wide conflict in the Middle East, Ukraine’s attack in Russia’s oil refineries, and an OPEC production cut, among others.

Firms last week hiked prices per liter of gasoline by P0.45, while reducing those of diesel by P0.60, and kerosene by P1.05.

Latest data available from the DOE indicate year-to-date adjustments of gasoline at P8.20, and diesel at P4.50 as of April 2, 2024. —KG/BM, GMA Integrated News