Gasoline up by P3, diesel by P4.10 in 2nd straight week of pump price hikes

Motorists will have to pay more for petroleum products this week, with oil firms set to implement another major price hike to mark the second 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 P3.00, diesel by P4.10, and kerosene by P3.50.

Cleanfuel, Petro Gazz, PTT Philippines Corp., and 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, April 26, for all the firms except for Cleanfuel which will adjust prices at 8:01 a.m. and Caltex at 12:01 a.m the same day.

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

Domestic pump prices have been on an uptrend in 13 out of the past 16 weeks, which the Department of Energy (DOE) has attributed the the ongoing conflict between Russia and Ukraine, along with the easing of COVID-19 restrictions in China which have driven demand.

Latest data available from the Department of Energy (DOE) indicate that adjustments stand at a net increase of P15.45 per liter for gasoline, P27.35 per liter for diesel, and P21.55 per liter for kerosene as of April 19, 2022.

Data from the same agency show that prices in Metro Manila range from P64.20 per liter (Quezon City) to P86.75 per liter (Muntinlupa City) for gasoline, and P65.25 per liter (Quezon City) to P79.95 per liter (Pasig City) for diesel as of April 21, 2022. — RSJ, GMA News