Gasoline and diesel pump prices up by over P1/liter Tuesday

Motorists will have to pay more for petroleum products starting Tuesday, as firms on Monday announced an upward adjustment following last week's rollback.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Shell Pilipinas Corp. said they will hike prices per liter of gasoline by P1.15, diesel by P1.10, and kerosene by P0.80.

Cleanfuel, Petro Gazz, PTT Philippines Corp., 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, November 26, for all the firms except for Cleanfuel which will hike prices at 4:01 p.m. on the same day.

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected an increase this week, citing the escalating geopolitical tension around Russia, along with the risk of plant closure in the country, and the oil production outage in Norway.

Firms last week cut prices per liter of gasoline by P0.85, diesel by P0.75, and kerosene by P0.90.

Year-to-date adjustments stood at a net increase of P10.15 per liter for gasoline and P9.40 per liter for diesel, and a net decrease of P1.40 per liter for kerosene as of November 12, 2024. —KBK, GMA Integrated News