The country’s oil firms raised pump prices by as much as P0.95 per liter effective today (Tuesday) to reflect the movement of prices in the world market.
Oil firms raised the price of diesel by P0.95 per liter, gasoline by P0.50 per liter and kerosene by P0.60 per liter.
Caltex, Petron Corp., PTT Philippines, Seaoil Philippines, Phoenix Petroleum Philippines, PetroGazz and Cleanfuel issued separate advisories of the last price adjustment.
Over the weekend, Unioil Petroleum Philippines said diesel will likely increase by P1 to P1.10 per liter while gasoline will increase by P0.40 to P0.50 per liter.
World oil prices went up last week on reports that the Organization of the Petroleum Exporting Countries (OPEC) and its allies decided to increase production output by 400,000 barrels per month.
On August 31, the oil companies implemented a price increase in domestic oil products, specifically P0.25 to P0.40 per liter for gasoline, P0.60 per liter for diesel and P0.70 per liter for kerosene.
These resulted in the year-to-date adjustments to stand at a total net increase of P12.85 per liter for gasoline, P9.95 per liter for diesel and P8.10 per liter for kerosene, according to the Department of Energy.
As this developed, Petron announced that vaccinated customers (at least with their first dose of COVID-19 vaccine) will get fuel discounts of P3 per liter for gasoline and P2 per liter for diesel at participating Petron stations nationwide.
Promo is open to both Petron Value Card(PVC) and non-PVC cardholders, and runs until September 21, 2021 with a transaction limit of 70 liters per customer.