OIL PRICE UPDATE – Fuel firms in the country are set impose gasoline and kerosene price hike, diesel price rollback.
Pilipinas Shell Petroleum Corp. will impose P0.30 hike per liter of gasoline, and P0.20 increase per liter of kerosene. On the other hand, diesel prices will rollback by P0.30 per liter.
Oil Companies to Implement Mixed Fuel Price Adjustments
Oil Companies to Impose Mixed Fuel Price Adjustments on Tuesday (December 5, 2023)
OIL PRICE UPDATE – Oil companies are set to implement mixed fuel price adjustments starting on Tuesday (December 5, 2023).
Petroleum product prices have a significant impact on the country’s economy. Pump price adjustments typically have a considerable impact on the prices of goods and services throughout the country.
The expected increase in fuel prices adds to the daily hardship of Filipinos, particularly those employed in the public transportation industry. Price reductions can help Filipino drivers in many ways.
Starting Tuesday (December 5), Filipino motorists will experience mixed changes in fuel prices, with an increase in gasoline and kerosene prices, while diesel prices are set to roll back.
According to an advisory from Pilipinas Shell Petroleum Corp., gasoline prices will go up by P0.30 per liter, and kerosene prices will experience a P0.20 hike per liter. On the other hand, the diesel prices will be rolled back by P0.30 per liter.
Cleanfuel will also impose similar changes except for kerosene, which it does not carry.
- Gasoline – P0.30/L increase
- Diesel – P0.30/L decrease
Most companies will implement changes at 6 a.m. on Tuesday, while Cleanfuel will do so at 12:01 a.m. on the same day. Other fuel firms have yet to make similar statements for the coming week.
RELATED ARTICLE: Oil Price Rollback to Take Effect on Tuesday (November 21, 2023)
The Oil Industry Management Bureau of the Department of Energy was expecting mixed movements in petroleum products this week. This speculation stems from expectations that the Organization of Petroleum Exporting Countries (OPEC) and its partners will extend production curbs.
The previous week, oil companies raised diesel prices by P0.30 per liter and kerosene prices by P0.65, while gasoline prices remained unchanged.
As of November 28, 2023, year-to-date data from the Department of Energy shows a net rise of P12.30 per liter for gasoline, P6.00 per liter for diesel, and P1.74 per liter for kerosene.
This is a developing report, just visit this website regularly or refresh the page for further updates.