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Big-time pump price hike set Tuesday to mark 8th straight week of increases

Motorists will again be greeted by heftier pump prices of petroleum products on Tuesday, as firms announced Monday another big-time hike to mark the eighth straight week of increases.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. said they will increase prices per liter of gasoline by P1.80, diesel by P1.50, and kerosene by P1.30.

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

The changes will take effect at 6 a.m. on Tuesday, October 19, for all the firms except Cleanfuel which will adjust prices at 4:01 p.m. the same day.

Other firms have yet to make similar announcements.

Latest data available from the Department of Energy (DOE) show that year-to-date adjustments stand at a total net increase of P17.85 per liter for gasoline, P16.50 per liter for diesel, and P14.19 per liter for kerosene as of October 12, 2021.—AOL/BM, GMA News