Oil products increase prices today


Kerosene prices also rise by ₱0.55 per liter as oil companies announced a new hike in gasoline prices by ₱1.15 per liter.
Trailing behind the rise in fuel products is diesel by ₱0.45 per liter, starting 26 October, Tuesday.


MANILA — Oil companies have all announced their compliance with the price adjustments. Shell Petroleum Corporation, Cleanfuel, Seaoil, PetroGazz, Chevron and PTT Philippines have raised fuel prices and other competitors are expected to follow.

This latest round of price climbs will already bring gasoline price adjustments to aggregate ₱20.80 per liter; diesel prices by ₱18.45 per liter; while kerosene by ₱16.04 per liter.

The Department of Energy (DoE) is currently considering to extend subsidy for public utility vehicles (PUVs) to cushion the stark changes in pump prices. It is not clear when it will implement said intervention.

It may be recalled, the agency also predicted that no hikes would take place in two months after eight weeks of continuous increases in fuel prices. (HMP/Headline PH)


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