Following three back-to-back rollbacks on gasoline and five for diesel and kerosene, motorists will now have to face another considerable increase in oil prices effective Tuesday.
Shell Pilipinas Corp. and Seaoil Philippines Corp. said in separate advisories that the price per liter of gasoline will go up by P1.00. Kerosene will also climb by P1.00 per liter, and diesel by P1.20 per liter.
Cleanfuel and Petro Gazz have also adjusted their prices as stated, excluding kerosene.
The changes will take effect at 4:01 PM on Tuesday, August 20 for Cleanfuel, and earlier at 6 AM on the same day for the other firms.
Similar announcements from the rest of the oil companies are expected to follow.
The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) has forecast such a development, having considered changes in the Unites States' monetary policy and the anticipation of heightened conflict in the Middle East, to name a few.
