A mixed round of fuel price adjustment takes effect this week, oil companies announced Monday.
In separate advisories, oil firms said they will increase diesel by P0.30 per liter. The price of kerosene will also go up by P0.65 per liter. There will be no movement in gasoline prices.
Pilipinas Shell, Seaoil, PTT, Phoenix Petroleum, Unioil, Total, Petron, and Caltex will implement the price adjustment at 6 a.m. of Tuesday, November 28.
Cleanfuel will implement its price adjustment at 4:01 p.m.
Last week, oil companies implemented price rollbacks for gasoline, diesel, and kerosene by P0.75, P0.65 and P0.60 per liter, respectively. These said price adjustments resulted in a year-to-date net increase of P12.30/liter for gasoline, P5.70/liter for diesel and P1.09/liter for kerosene.
Movements in the world oil market affect local pump prices. Oil firms adjust their prices every week to reflect movements in the world oil market.
DOE- Oil Industry Management Bureau Director Rodela Romero said this week’s price adjustment could still be attributed to the reduced production within OPEC + and increase in the United States’ crude oil inventories.
She cautioned motorists to be prepared as oil prices remain volatile.