After three straight weeks of rollbacks, the prices on petroleum products will see an increase effective tomorrow, March 25.
In separate advisories, Chevron Philippines Inc. (Caltex), Seaoil Philippines Corp., and Shell Pilipinas Corp. announced the following price hikes:
- Gasoline - ₱1.10 increase per liter
- Diesel - ₱0.40 increase per liter
- Kerosene - ₱0.40 increase per liter
Cleanfuel will also adjust their prices accordingly, save for kerosene, which they do not carry.
These changes will be implemented beginning 6 AM on Tuesday for all companies except Cleanfuel, which will raise their prices at 4:01 PM of the same day.
Other firms are expected to release similar announcements for this week.
The Department of Energy - Oil Industry Management Bureau (DOE - OIMB) had forecast higher prices this week, due to persistently strained relations in the Middle East; a boost in Beijing’s economy, resulting in an upswing in consumption; and a decrease in America’s fuel inventories.
