MOTORISTS will pay more for petroleum this week as oil firms announced another round of price hikes to mark the second straight week of upward adjustments.
In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Corp. said they would hike prices per liter of gasoline by P0.30, diesel by P0.90, and kerosene by P0.90.
Cleanfuel, Petro Gazz, and Unioil Petroleum Philippines Inc. will implement the same changes, excluding kerosene which they do not carry.
The adjustments will take effect at 6 a.m. today, Jan. 16, except for Cleanfuel which will adjust prices at 4:01 p.m. and Caltex at 12:01 a.m. the same day. Other firms have yet to make similar announcements for the week as of this writing.
The Department of Energy’s (DOE) Oil Industry Management Bureau last week projected hikes for both diesel and kerosene and no change or a minimal rollback for gasoline, citing the four-day trading in the Mean of Platts Singapore (MOPS).
Year-to-date adjustments stood at a net decrease of P0.25 per liter for diesel, and P1.30 per liter for kerosene as of January 9, as firms last week hiked prices per liter of gasoline, diesel, and kerosene by P0.10 each. (GMA Integrated News)
