Oil firms to hike gasoline, diesel, kerosene prices Tuesday

Motorists will have to pay more for petroleum products this week as oil firms announced another round of hikes after the rollbacks implemented last Tuesday.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. said they will hike prices per liter of gasoline by P0.40, diesel by P1.50, and kerosene by P1.25.

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

The changes will take effect at 6 a.m. on Tuesday, March 7, for all companies except for Caltex which will adjust prices at 12:01 a.m., and Cleanfuel at 4:01 p.m. the same day.

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

The latest movement follows the rollback implemented last week, when firms cut prices per liter of gasoline by P0.70, diesel by P1.30, and kerosene by P1.80.

Latest data available from the Department of Energy (DOE) show that year-to-date net decreases stood at P2.40 per liter for kerosene and P2.30 per liter, and a net increase of P5.30 per liter was recorded as of February 28, 2023.

The higher prices also come amid a week-long transport strike from March 6 to 12, as jeepney operators and drivers protest the public utility vehicle (PUV) Modernization Program.

The Metropolitan Manila Development Authority (MMDA) has since suspended the expanded number coding scheme on Monday, March 6, but has yet to provide any guidance for the rest of the days in the transport strike. —VAL/NB, GMA Integrated News