OIL firms yesterday announced another round of hikes to mark the third straight week of increases.
In separate advisories, Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. said they will hike prices per liter of gasoline by P1.30, diesel by P1.00, and kerosene by P1.35.
Cleanfuel will implement the same adjustments, excluding kerosene which it does not carry.
The changes will take effect at 6 a.m. today for all the firms except for Cleanfuel which will adjust prices at 4:01 p.m. the same day.
Firms last week hiked prices per liter of gasoline by P2.80, diesel by P2.25, and kerosene by P2.40.
“Historically na itong panahon na ito dapat pababa na dahil pagkatapos ng Pasko, nawala na ang [demand]. Unfortunately, may ibang factors pa noong nakaraan kaya bumababa dahil sa zero COVID policy ng China. Pero kung ngayon, despite na may virus sila, nag-open up na ang economy nila so tumaas ang demand ng petroleum products,” Department of Energy (DOE) assistant director Rodela Romero said in a radio interview.
The contributing factor remains to be the recovering economy in China as they ease their lockdown restrictions further, he said.
Latest data available from the DOE showed that year-to-date net increases stood at P5.90 per liter for gasoline, P2.05 per liter for diesel, and P3.20 per liter for kerosene. (GMA Integrated News)
