Mixed fuel price adjustments set this week
LOCAL oil firms will start increasing gasoline pump prices while imposing a meager price rollback on diesel and kerosene products effective Tuesday, November 8.
Major oil companies Petron Corporation and Pilipinas Shell, along with independent oil firms Seaoil Philippines and Flying V, carried out their uniformed price increases on gasoline products by P1.40 per liter while slashing the pump prices of diesel products by P0.30 centavos per liter and kerosene by P0.35 centavos per liter effective at 6:00 a.m. Tuesday.
Chevron Philippines, another major oil company, also implemented the same price adjustment much earlier at 12:01 a.m. on Tuesday, while small player Clean Fuel carried out the same price changes for its gasoline and diesel products effective 4:01 p.m.
Thai-led PTT Philippines, Total Philippines, Phoenix Petroleum, Petro Gazz, Unioil Philippines, and Jetti Oil also announced on Monday an increase in their gasoline products and a decrease in diesel products by the same level, effective at 6:00 a.m., Tuesday.
Energy officials said the increase in prices of gasoline products can be attributed to the continuing conflict between Russia and Ukraine and the strong demand in the world market during the winter season.
