MOTORISTS will have to pay more for fuel products this week, as firms yesterday announced pump price hikes following the three straight weeks of rollbacks.
In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., Seaoil Philippines Corp., and Shell Pilipinas Corp. said they will hike prices per liter of gasoline by P1.10, and diesel and kerosene by P0.40 each.
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. the same day.
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 upward adjustments this week, citing rising tensions in the Middle East, higher consumption as Beijing released fiscal stimulus measures, and a draw in US fuel inventories.
Firms last week rolled back prices per liter of diesel by P0.20, and kerosene by P0.40, while keeping those of gasoline unchanged. (GMA Integrated News)
