Gasoline, diesel, kerosene prices up by over P2/liter Tuesday

Motorists will have to pay more for petroleum products this week, as fuel retailers on Monday announced a big-time hike to mark the fourth straight week of upward adjustments for diesel and the third for kerosene.

In separate advisories, Chevron Philippines Inc. (Caltex), Seaoil Philippines Corp., Shell Pilipinas Corp. and Unioil Petroleum Philippines Inc.said they will increase prices per liter of gasoline by P2.65, diesel by P2.70, and kerosene by P2.60.

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

The adjustments will take effect at 6 a.m. on Tuesday, October 15, for all the firms except for Cleanfuel, which will increase prices at 4:01 p.m. the same day.

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

The latest announcements are in line with projections made by the Department of Energy-Oil Industry Management Bureau (DOE-OIMB), citing concerns on supply disruption due to the ongoing geopolitical concerns, production cuts, and unplanned refinery outages.

Firms last week hiked prices per liter of diesel by P1.20 and kerosene by P0.70, while keeping gasoline prices unchanged.

This brought year-to-date adjustments to a net increase of P6.05 per liter for gasoline and P4.05 per liter for diesel, and a net decrease of P5.35 per liter for kerosene as of October 8, 2024. —KBK/RF, GMA Integrated News