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Significant Oil Price Increase Set for Nov. 12

by Krystal

MANILA – Oil companies are set to raise fuel prices starting Tuesday.

In separate announcements on Monday, Petro Gazz, CleanFuel, Caltex, Seaoil, and Shell confirmed price increases. Gasoline will rise by PHP1.50 per liter, while diesel will go up by PHP2.10 per liter.

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Additionally, Caltex, Shell, and Seaoil will raise kerosene prices by PHP1.20 per liter.

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The price hikes will take effect at 6 a.m. on Tuesday.

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This follows last week’s price changes, where oil companies raised diesel and kerosene prices by PHP0.75 and PHP0.50 per liter, respectively. Gasoline prices, however, were reduced by PHP0.10 per liter.

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As of Nov. 5, the Department of Energy’s latest data showed that gasoline prices have increased by PHP8.65 per liter, while diesel prices have risen by PHP7.30 per liter. Kerosene, in contrast, has experienced a net decrease of PHP2.60 per liter.

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