Mixed oil price adjustments on Tuesday

By Kris Crismundo

May 20, 2024, 5:43 pm

<p><em>(File photo)</em></p>

(File photo)

MANILA – Starting Tuesday, motorists will see mixed price adjustments on fuel prices while consumers can expect higher kerosene prices starting in the morning of the same day.

In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, and Shell said they would cut gasoline prices by PHP0.10 per liter while increasing diesel prices by PHP0.25 per liter.

Caltex, Seaoil, and Shell will also hike kerosene prices by PHP0.30 per liter.

According to Seaoil, the higher prices of diesel can be attributed to premiums and freight cost adjustments.

On the other hand, gasoline prices will have been lower for six consecutive weeks once oil firms implement the rollback on Tuesday.

Industry analysts noted that the price hike for diesel and kerosene may have a broader impact, as these fuels are used in transportation and household activities which could lead to slight increases in logistics and domestic expenses.

Meanwhile, the gasoline price rollback, though minimal, offers some relief to private vehicle owners.

“Year-to-date adjustment of gasoline and diesel stands at a per liter net increase of PHP7.25 and PHP4.20, respectively. Kerosene, on the other hand, has a net decrease of PHP1.65 per liter,” the Department of Energy said. (PNA)