BIG-TIME HIKE

Gasoline prices up by over P1/liter Tuesday; diesel, kerosene by over P2/liter

Motorists will have to tighten their belts for another week, as fuel retailers on Monday announced a major pump price hike to mark the third straight week of upward adjustments.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Seaoil Philippines Corp., and Shell Pilipinas Corp. said they will hike prices per liter of gasoline by P1.65, diesel by P2.70, and kerosene by P2.50.

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

The adjustments will take effect at 6 a.m. on Tuesday, January 21, for all the firms, except for Cleanfuel which will hike prices at 4:01 p.m. the same day.

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

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected major hikes this week, citing the imposition of a new round of sanctions on Russian oil by both the United States and the United Kingdom.

Retailers hiked prices per liter of gasoline and kerosene by P0.80 each, and diesel and by P0.90 last Tuesday, January 14.

This brought year-to-date adjustments to a net increase of P1.80 per liter for both gasoline and kerosene, and P2.30 per liter for diesel as of January 14, 2025. —KG/RSJ, GMA Integrated News