LATEST OIL PRICE ADJUSTMENT – Various gas stations in the Philippines have announced mixed fuel price changes this week.
Several oil companies, including Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp., have disclosed that kerosene prices will be reduced by P0.75 per liter, while diesel prices will increase by P0.10 per liter. Gasoline prices, however, will remain unchanged.
Oil Firms to Impose Mixed Fuel Price Adjustments on Tuesday (December 19, 2023)
Mixed Fuel Price Adjustments Expected on Tuesday (December 19, 2023), Oil Firms Say
OIL PRICE UPDATE – Several oil firms are set to impose mixed fuel price adjustments on Tuesday (December 19, 2023).
In the Philippines, just like in many other countries, oil plays an important role in powering our daily lives. From fueling our vehicles to generating electricity, oil is a basic commodity that affects the economy and our everyday lives.
On Monday (December 18, 2023), various gas stations in the country announced changes in fuel prices for the upcoming week, bringing a slight increase for diesel and a continued rollback for kerosene.
Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. announced that kerosene prices will be reduced by P0.75 per liter, while diesel prices will go up by P0.10 per liter. Gasoline prices, however, will remain unchanged.
Cleanfuel is also expected to impose similar adjustments, excluding kerosene from the changes as it does not carry this fuel type.
All oil companies are set to implement the price changes at 6 a.m. on Tuesday except for Cleanfuel, which will be adjusting prices at 4:01 p.m. on the same day. Other oil firms are yet to make similar announcements later this week.
Last week, oil companies implemented price rollback, reducing gasoline prices by P1.60 per liter, diesel by P1.85 per liter, and kerosene by P1.40 per liter.
As of December 12, 2023, the latest data from the DOE indicates year-to-date net increases of P11.00 per liter for gasoline, P3.85 per liter for diesel, and P0.54 per liter for kerosene.
Consumers are advised to stay informed about these price adjustments, as movements in fuel prices can affect household budgets and transportation costs.
This is a developing report, just visit this website regularly or refresh the page for further updates.
RELATED ARTICLE: Fuel Firms to Impose Oil Price Rollback on Tuesday (December 12, 2023)