Fuel price hike set Tuesday

Motorists will have to pay more for petroleum products this week, with retailers set to hike pump prices of gasoline for the fourth straight week on Tuesday.

In separate advisories, Seaoil Philippines Corp. and Shell Pilipinas Corp. said they will increase prices per liter of gasoline and diesel by P0.80 each, and kerosene by P0.10.

Cleanfuel and Petro Gazz will implement the same adjustments, excluding kerosene which they do not carry.

The adjustments will take effect at 6 a.m. on Tuesday, December 17, for all the firms except for Cleanfuel which will hike prices at 4:01 p.m. the same day.

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected hikes for gasoline and diesel, and a rollback for kerosene, citing an expected higher demand, geopolitical volatility in the Middle East, and delays in increasing output.

Firms last week hiked prices per liter of gasoline by P0.40, while reducing those of diesel by P0.50, and kerosene by P0.75.

Year-to-date adjustments stood at a net increase of P11.35 per liter for gasoline and P9.55 per liter for diesel, and a net decrease of P1.90 per liter for kerosene as of December 3, 2024. — RSJ, GMA Integrated News