Gasoline and kerosene prices up; diesel down Tuesday

Motorists will have to pay more for gasoline and kerosene starting Tuesday, while prices of diesel will be rolled back.

In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Corp. said they will hike prices per liter of gasoline by P0.30 and kerosene by P0.20, while rolling back diesel by P0.30.

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

The adjustments will take effect at 6 a.m. on Tuesday, December 5, for all the firms except for Caltex and Cleanfuel which will both implement the changes at 12:01 a.m. the same day.

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

The Department of Energy’s (DOE) Oil Industry Management Bureau (OIMB) earlier forecast mixed movement in petroleum products this week due to speculation that the Organization of the Petroleum Exporting Countries (OPEC) and its partners will extend supply cuts.

Firms last week hiked prices per liter of diesel by P0.30 and kerosene by P0.65, while keeping gasoline prices unchanged.

Latest data available from the DOE indicate year-to-date net increases of P12.30 per liter for gasoline, P6.00 per liter for diesel, and P1.74 per liter for kerosene as of November 28, 2023.—AOL, GMA Integrated News