PUMP prices of gasoline will be hiked for the sixth straight week today, while those of diesel and kerosene will be rolled back.
In separate advisories, Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. said they will increase prices per liter of gasoline by P0.55, while reducing those of diesel by P0.95, and kerosene by P1.10.
Cleanfuel will implement the same changes, excluding kerosene which it does not carry.
The adjustments will take effect at 6 a.m. for all the firms.
The Department of Energy’s Oil Industry Management Bureau (DOE-OIMB) earlier projected an increase for gasoline and rollbacks for both diesel and kerosene, on the back of the lingering factors of geopolitical tensions, and the unexpected reduction of fuel demand in big economies.
DOE-OIMB director Rino Abad, however, said there is no assurance that the rollback in some petroleum products will continue in the next weeks to come.
“Hindi pa natin masigurado kung ito’y magtu-tuloy tuloy na rollback. Hindi natin inaasahan ito dahil ang trend talaga dahil sa mga events na ‘to — production cut ng OPEC, pagkakaron ng conflict doon sa Middle East. Hindi natin inaasahan na masiguro na magtutuloy-tuloy ang rollback,” Abad said in a public briefing.
Firms last week hiked prices per liter of gasoline by P0.40, diesel by P0.958, and kerosene by P0.85 as of April 16, 2024.
Latest data available from the DOE indicates that year-to-date net adjustments stood at a net increase of P9.70 per liter for gasoline, P7.00 per liter for diesel, and P2.25 per liter for kerosene as of April 16, 2024.
Abad thus reminded the beneficiaries of the fuel subsidy program both in the public transport and agriculture sectors to avail of the said subsidy by coordinating with the Land Transportation Franchising and Regulatory Board and Department of Agriculture, respectively. (GMA Integrated News)
