Motorists are set to face an increase in oil prices as various companies announced another round of pump price hikes set to take effect on Tuesday, October 29.
In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Seaoil Philippines Corp., Shell Pilipinas Corp., and Unioil Petroleum Philippines Inc. announced the said price increase.
Gasoline will rise by Php 0.20 per liter, while diesel and kerosene prices will each go up by Php 0.50 per liter.
In addition, Cleanfuel and Petro Gazz will adopt the same price adjustments, except for kerosene, which is not part of their product line.
The price increase for Shell Pilipinas and Caltex will take effect around 6 a.m., whereas CleanFuel's adjustments will be implemented at 4:01 p.m.
Oil companies made price reductions last week, lowering gasoline by Php 0.50 per liter, diesel by Php 0.70 per liter, and kerosene by Php 0.85 per liter.
The Department of Energy's latest data shows that as of October 15 this year, oil companies have increased prices by Php 2.60 to Php 2.65 per liter for gasoline, Php 2.70 per liter for diesel, and Php 2.60 per liter for kerosene.
The total year-to-date adjustments reveal a net increase of Php 9.05 per liter for gasoline and Php 6.75 per liter for diesel, whereas kerosene has a total net decrease of Php 2.75 per liter.
