MANILA, Philippines — Oil companies announced on Monday, October 28, that fuel prices will see a slight increase starting Tuesday, October 29. This follows a rollback in prices from the previous week.
In their separate advisories, Shell Pilipinas, CleanFuel, and Caltex outlined the upcoming adjustments:
Gasoline: Increase of P0.20 per liter
Kerosene: Increase of P0.50 per liter
Diesel: Increase of P0.50 per liter
Shell Pilipinas and Caltex will implement the price hike at around 6 a.m. on Tuesday. CleanFuel’s new prices will take effect at 4:01 p.m. the same day.
The Department of Energy (DOE) reported that between October 22 and 28, fuel prices across various companies ranged from P52 to P65.71 per liter for gasoline, P51.60 to P54.60 for diesel, and P71.66 for kerosene.
As of October 15, the DOE noted a year-to-date net increase of P6.75 per liter for diesel and P9.05 per liter for gasoline. In contrast, kerosene experienced a net decrease of P2.75 per liter. This recent price adjustment may change following this week’s increase.
The DOE also mentioned that these price changes are influenced by ongoing tensions in the Middle East, which affect oil supply and contribute to rising global prices. Additionally, there has been a reduction in gasoline and diesel supplies across Asia.
Before last week’s rollback, diesel prices had risen for four consecutive weeks, and kerosene prices had increased for three straight weeks.
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