MOTORISTS will have to tighten their belts for another week, as fuel retailers yesterday announced a major pump price hike to mark the third straight week of upward adjustments.
In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp. and Shell Pilipinas Corp. said they will hike prices per liter of gasoline by P1.65, diesel by P2.70, and kerosene by P2.50.
Cleanfuel will implement the same changes, excluding kerosene which it does not carry.
The adjustments will take effect at 6 a.m. today for all the firms, except for Cleanfuel which will hike prices at 4:01 p.m.
Other firms have yet to make similar announcements for the week as of this writing.
The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected major hikes this week, citing the imposition of a new round of sanctions on Russian oil by both the United States and the United Kingdom.
Retailers hiked prices per liter of gasoline and kerosene by P0.80 each, and diesel and by P0.90 last Tuesday, January 14.
This brought year-to-date adjustments to a net increase of P1.80 per liter for both gasoline and kerosene, and P2.30 per liter for diesel as of January 14, 2025. (GMA Integrated News)
