November 25, 2024 | 11:43am
MANILA, Philippines — Several oil companies in the Philippines have indeed announced a fuel price increase effective Tuesday, November 26.
The price adjustments are as follows:
- Diesel prices will increase by P1.10 per liter
- Gasoline prices will increase by P1.15 per liter
- Kerosene prices will increase by P0.80 per liter[1][3]
Shell Pilipinas, Caltex, PetroGazz and Seaoil will implement these price changes starting at 6 a.m. on Tuesday. Cleanfuel, however, will implement the price hike at 4:01 p.m. on the same day.
The government has attributed this fuel price increase to several factors such as escalating geopolitical tensions involving Russia where there are risks of plant closures in the oil refinery subsector as well as an oil production in Norway.
This development follows the previous week’s price rollback. Gasoline went down by P0.85 per liter, kerosine decreased by P0.90 per liter and diesel went down by P0.75 per liter.
This brings the cumulative price change for the year into double digits for gasoline with a net increase of P10.15 per liter.
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