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Oil price hike at the end of November
Oil price hike at the end of November
Nation
Oil price hike at the end of November
by Jim Fernandez25 November 2024
Motorists queue at a gas station a day before an oil price hike, in Quezon City, Metro Manila, Philippines, June 6, 2022. REUTERS/ Eloisa Lopez

Motorists will have to bear with the price spike in petroleum products this last week of November, after a slight rollback seen in the previous week.

Shell, and Seaoil, beginning at 6 AM on Tuesday, November 26, will implement the following price changes:

  • Gasoline - ₱1.15/liter increase
  • Diesel - ₱1.10/liter increase
  • Kerosene - ₱0.80/liter increase
  • PetroGazz and Cleanfuel oil prices will follow suit, except for kerosene.
  • Cleanfuel’s price adjustment will also take effect from 4 PM onwards.

Rising prices are due to the mounting tensions between Russia and Ukraine, an oilfield outage in Norway, and the depreciation of the peso against the dollar, said the Department of Energy (DOE).

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