Oil prices up March 25 after 3 weeks of rollback

FILE: An employee fills up a car’s fuel tank at a gasoline station in Davao City on Tuesday (Dec. 20, 2022). After four consecutive weeks of price cuts, oil firms implemented a big-time hike in pump prices – PHP2.90 per liter for diesel; PHP0.70 per liter for gasoline, and PHP1.65 per liter for kerosene – just five days before Christmas. (PNA photo by Robinson Niñal Jr.)

By Kris Crismundo, Philippine News Agency

MANILA – After three consecutive weeks of rollbacks, oil firms will increase prices Tuesday.

In separate advisories on Monday, Caltex, Cleanfuel, Petro Gazz, PTT, Seaoil, and Shell said they will hike gasoline prices by PHP1.10 per liter and diesel prices by 40 centavos per liter.

Caltex, Seaoil, and Shell will also implement a 40-centavo increase on kerosene prices.

Other oil firms are expected to follow suit.

With the price adjustment last week, the Department of Energy (DOE) said year-to-date net increase of gasoline and diesel stood at PHP2.15 per liter and PHP2.85 per liter, respectively, while kerosene prices had a net decrease of 70 centavos per liter.

DOE data also showed that current prices of gasoline range between PHP50 and PHP76.77 per liter, from PHP50 to PHP73.34 per liter for diesel and from PHP69.64 to PHP83.69 for kerosene.