Fuel firms hike pump prices anew; 6th straight week for gasoline

Fuel retailers on Monday announced another round of pump price hikes this week, marking the sixth straight week of increases for gasoline, and the third for diesel.

In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., and Seaoil Philippines Corp. said it they will hike prices per liter of gasoline by P0.50 and diesel by P1.00. There will be no changes for kerosene, due to the nationwide price freeze.

Cleanfuel, Petro Gazz, and PTT Philippines Corp. which do not carry kerosene, will implement the same changes.

The adjustments will take effect at 6 a.m. on Tuesday, November 11, for all the firms except for Cleanfuel which will implement the changes at 4:01 p.m. the same day.

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

In separate advisories, Petron and Seaoil said they will implement a price freeze on gasoline and diesel in Cagayan, Isabela, Nueva Vizcaya, Albay, Camarines Sur, Camarines Norte, and Sorsogon this week.

This was followed by the onslaught of tropical cyclones Tino and Uwan.

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected a rollback for gasoline and hikes for both diesel and kerosene this week, pricing in Ukraine’s drone attack to Russia’s Black Seaport, and expectations of a production ramp up.

Retailers last week hiked prices per liter of gasoline by P1.70, diesel by P2.70, and kerosene by P2.10.

Year-to-date adjustments stood at a net increase of P16.50 per liter for gasoline, P19.15 per liter for diesel, and P6.55 per liter for kerosene as of October 28.— with Mariel Celine Serquiña/MCG/RF/BAP, GMA Integrated News