Gasoline, diesel, kerosene pump prices up Tuesday

Motorists will have to pay more for petroleum products this week, as firms on Monday announced another round of pump price hikes following last week's rollback.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Seaoil Philippines Corp., Shell Pilipinas Corp., and Unioil Petroleum Philippines Inc. said they will increase prices per liter of gasoline by P0.20, diesel by P0.50, and kerosene by P0.50.

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, October 29 for all the firms, except for Cleanfuel which will hike prices at 4:01 p.m. the same day.

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

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) projected mixed movement for this week, citing weaker demand in China and the United States, the surprise build in American stocks, the expected stability in geopolitical risks, and the anticipated increase in demand for diesel in South Korea.

Firms last week reduced prices per liter of gasoline by P0.50, diesel by P0.70, and kerosene by P0.85.

Latest data available from the Department of Energy (DOE) show a net increase of P9.05 per liter for gasoline and P6.75 per liter for diesel, and a net decrease of P2.75 per liter for kerosene as of October 15, 2024. —KBK/RSJ, GMA Integrated News