Fuel prices are set to increase on Tuesday, March 25, following three consecutive weeks of price rollbacks, several oil firms announced.
Fuel Price Adjustments
In separate advisories, major oil companies, including Caltex, Cleanfuel, Petro Gazz, PTT, Seaoil, and Shell, confirmed they will raise gasoline prices by PHP1.10 per liter. Diesel and kerosene prices will also rise by 40 centavos per liter.
Caltex, Seaoil, and Shell will apply the kerosene price hike, while other oil firms are expected to follow suit.
Year-to-Date Price Changes
Despite previous rollbacks, the Department of Energy (DOE) reported that the year-to-date net increase stands at PHP2.15 per liter for gasoline and PHP2.85 per liter for diesel. Meanwhile, kerosene prices have seen a net decrease of 70 centavos per liter.
DOE data shows that current fuel prices range from PHP50 to PHP76.77 per liter for gasoline, PHP50 to PHP73.34 per liter for diesel, and PHP69.64 to PHP83.69 for kerosene.
The latest price hike follows fluctuations in global oil prices and ongoing market volatility.
Jaja has a degree in journalism and took classes in international law and business communication. Her career spans roles at prominent international media outlets, including International Business Times, Celebeat and Delightful Philippines. As a news editor, Jaja covered a wide range of beats, including legal, business, economy, cryptocurrency, personal finance, gaming, technology, and entertainment.