Diesel, kerosene, gasoline pump prices up Tuesday

Motorists will be met with higher fuel prices on Tuesday, April 16, 2024, as companies announced another round of upward adjustments.

In separate advisories, Pilipinas Shell Petroleum Corp., Seaoil Philippines Corp, and Caltex said they will increase the prices per liter of diesel by P0.95, kerosene by P0.85, and gasoline by P0.40.

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

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

Department of Energy-Oil Industry Management Bureau Director III Rodela Romero said last week the expected fuel price hike could be attributed to “an intensified geopolitical concerns in Gaza Strip wherein Israeli's airstrikes killed three sons of a Hamas leader.”

“Though, inventory build up of crude and fuels in the US tempered the oil price increase,” she said.—AOL. GMA Integrated News