Gasoline, diesel, kerosene price hike set Tuesday

Motorists will have to pay more for fuel products starting this week, as firms on Monday announced a pump price hike following the rollback implemented last Tuesday.

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 P0.50, diesel by P0.30, and kerosene by P0.70.

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

The increase will take effect at 6 a.m. on Tuesday, September 3, for all firms except for Cleanfuel, which will adjust prices at 4:01 p.m. the same day.

Other firms have yet to make similar announcements for the week as of posting time.

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected upward adjustments for this week, citing a combination of escalating geopolitical tensions and a sudden halt in Libyan oil production and exports.

Firms last week rolled back prices per liter of gasoline by P1.15, diesel by P1.90, and kerosene by P1.80.

This brought year-to-date adjustments to a net increase of P6.90 per liter for gasoline and P4.05 per liter for diesel, and a net decrease of P4.00 per liter for kerosene as of August 27, 2024. —KBK/RSJ, GMA Integrated News