Gasoline pump prices up; diesel and kerosene down Tuesday

Oil companies on Monday announced mixed movements in pump prices this week, as motorists will have to pay more for gasoline starting Tuesday, while kerosene and diesel prices will be rolled back for the second straight week.

In separate advisories, Chevron Philippines Inc. (Caltex), Seaoil Philippines Corp., Shell Pilipinas Corp. said they will hike prices per liter of gasoline by P0.10 while rolling back those of diesel by P0.40, and kerosene by P0.70.

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 22, 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 projections made by the Department of Energy’s Oil Industry Management Bureau (DOE-OIMB), citing the global demand outlook.

Firms last week rolled back prices per liter of gasoline by P0.60, diesel by P0.90, and kerosene by P1.15.

This brought year-to-date adjustments to a net increase of P10.25 per liter for gasoline, P8.15 per liter for diesel, and P1.15 per liter for kerosene as of July 16, 2024.  —VAL, GMA Integrated News