Fuel prices are set to rise for the second consecutive week, as several oil companies announced significant price hikes on Monday.
Chevron Philippines Inc. (Caltex), Petron Corp., Seaoil Philippines Corp., and Shell Pilipinas Corp. revealed that they will increase gasoline prices by P1.40 per liter. Diesel and kerosene prices will also rise by P1.20 per liter.
Cleanfuel and Petro Gazz will implement similar price increases, though they do not carry kerosene.
The price adjustments will take effect at 6 a.m. on Tuesday, April 1, 2025. However, Cleanfuel will raise its prices starting at 4:01 p.m. on the same day.
Other fuel companies have not yet made announcements regarding price changes for the week.
The Department of Energy‘s Oil Industry Management Bureau (DOE-OIMB) had earlier predicted a significant price increase due to factors such as US sanctions on Iran, threats of tariffs on countries importing Venezuelan crude oil, and ongoing Russia-Ukraine tensions affecting energy infrastructure.
Just last week, fuel prices were raised by P1.10 per liter for gasoline and P0.40 per liter for both diesel and kerosene.
As of March 25, 2025, the total year-to-date price adjustments stand at a net increase of P3.25 per liter for both gasoline and diesel, while kerosene has seen a net decrease of P0.30 per liter.
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