By Stephanie Sevillano | Philippine News Agency
Fuel prices increased by more than P1 this Tuesday, following announcements from oil companies.
In separate advisories on Monday, Shell Pilipinas, Caltex, Cleanfuel, Seaoil, Petro Gazz, Jetti, Unioil, PTT Philippines, and Flying V said they would increase gasoline prices by P1.15 per liter, and diesel by P1.10 per liter.
Kerosene prices will also go up by P0.80 centavos per liter, according to Caltex, Shell, Seaoil, and Flying V.
The price adjustment became effective at 6:00 a.m.
This came following last week’s rollback of P0.85 per liter of gasoline, P0.75 per liter of diesel, and P0.90 per liter of kerosene.
Earlier, Department of Energy – Oil Industry Management Bureau Director Rodela Romero attributed the fuel price spike forecasts to the escalating geopolitical situation around Russia, the risks of plant closure of Russian oil refinery businesses; and the news of oil production outage in Norway.
The DOE said the total adjustment of gasoline and diesel year-to-date stands at a net increase of P10.15 per liter and P9.40 per liter, respectively; with a total net decrease of P1.40 per liter of kerosene.