Gasoline prices up for 4th straight week Tuesday; diesel, kerosene for 6th

Motorists will have to pay more petroleum products this week, as retailers on Monday announced another round of hikes to mark the fourth straight week of upward adjustments for gasoline and the sixth for both diesel and kerosene.

In an advisory, Shell Pilipinas Corp. said it will hike prices per liter of gasoline by P0.80, diesel by P1.60, and kerosene by P1.10.

The adjustments will take effect 6 a.m. on Tuesday, February 3.

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

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected price hikes this week, citing the slow recovery of Kazakhstan’s Tengiz field, the rising Iran risk premium, and the OPEC+ policy to pause its output hikes.

Retailers last week hiked prices per liter of gasoline by P0.40, diesel by P1.40, and kerosene by P0.80.—AOL, GMA Integrated News