Gasoline, diesel, kerosene prices up for 3rd straight week Tuesday

Pump prices of petroleum products will be hiked anew on Tuesday, marking the third straight week of increases after big-time upward adjustments in the past two weeks.

In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., Seaoil Philippines Corp. and Shell Pilipinas Corp. said they will increase prices per liter of gasoline by P0.95, diesel by P0.65, and kerosene by P0.35.

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, July 2, for all the firms, except for Cleanfuel which will implement the changes at 4:01 p.m. the same day.

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

The latest announcements are in line with projections made by the Department of Energy’s Oil Industry Management Bureau (DOE-OIMB), citing the impact of the potential escalation of geopolitical unrest to the global supply outlook, and the production restriction of the Organization of Petroleum Exporting Countries.

Firms last week hiked prices per liter of gasoline by P1.40, diesel by P1.75, and kerosene by P1.05. — RSJ/RF, GMA Integrated News