MANILA — Motorists will face higher fuel costs this week, as petroleum companies have announced significant price hikes, marking the fourth consecutive week of increases for diesel and the third for kerosene.
In separate notices, Chevron Philippines Inc. (Caltex), Seaoil Philippines Corp., and Shell Pilipinas Corp. revealed they will raise prices by P2.65 per liter for gasoline, P2.70 for diesel, and P2.60 for kerosene.
Cleanfuel will apply the same increases, excluding kerosene, as it does not carry the product.
The new prices will take effect at 6 a.m. on Tuesday, October 15, for all companies except Cleanfuel, which will implement the adjustments at 4:01 p.m. the same day. Other fuel retailers have not yet released announcements.
These increases align with the Department of Energy’s Oil Industry Management Bureau (DOE-OIMB) projections, which warned of potential supply disruptions due to ongoing geopolitical tensions, production cuts, and unexpected refinery outages.
Last week, firms raised diesel prices by P1.20 per liter and kerosene by P0.70, with gasoline prices remaining unchanged.
As of October 8, 2024, year-to-date price changes amounted to a net increase of P6.05 per liter for gasoline and P4.05 for diesel, while kerosene saw a net decrease of P5.35.
elami/mnm
