Pump prices of gasoline, kerosene and diesel went up by P0.60 per liter, P0.55 per liter and P0.20 per liter, respectively, effective 6 a.m. Tuesday, putting an end to several weeks of price rollbacks amid weak global demand.
“Petron will implement the following price increases effective 6 a.m. on Sept.22: P0.60 per liter for gasoline; P0.20 per liter for diesel; and P0.55 per liter for kerosene. These reflect movements in the international oil market,” Petron Corp. said in its advisory.
Pilipinas Shell Petroleum Corp., Total Philippines, Phoenix Petroleum Philippines, Flying V, Seaoil Philippines and Cleanfuel also issued separate advisories of their respective price hikes.
Unioil Philippines announced over the weekend that consumers can expect fuel prices to go up during the week of September 22 to 28.
“Diesel should increase by P0.10 per liter. Gasoline should increase by P0.50 to P0.60 per liter,” Unioil Philippines said.
On September 15, the oil companies cut the price of gasoline by P1 per liter, diesel by P1.50 to P1.55 per liter and kerosene by P1.45 per liter.
These resulted in total year-to-date adjustments to stand at a net decrease of P5.22 per liter for gasoline, P10.99 per liter for diesel, and P15.39 per liter for kerosene, according to the Department of Energy.
World oil prices went up last week amid reports that Saudi Arabia is agreeable to new production cuts. Saudi Arabia also called out members and allies of the Organization of the Petroleum Exporting Countries for allegedly cheating on their production quotas.