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Fuel prices to increase twice this week

Business | The Economy

Fuel prices to increase twice this week

By Gabriell Christel Galang

Geopolitical tensions are expected to send ripples to local fuel prices this week, with motorists bracing for back-to-back price hikes starting Tuesday.

Seaoil, along with other fuel companies that met with the Department of Energy (DOE) on Monday, June 23, announced that they will implement a staggered price increase on Tuesday, June 24, and on Thursday, June 26.

Gasoline will rise by ₱1.75 per liter, diesel by ₱2.60 per liter, and kerosene by ₱2.40 per liter.

The same price adjustments will take effect on Thursday.

These scheduled adjustments come after oil companies, including Petron, Shell Pilipinas, Caltex, Jetti Petroleum, PetroGazz, Phoenix, PTT, Seaoil, Total, Unioil, Filpride, and Cleanfuel, agreed to stagger price hikes in an effort to ease the impact of this week's increases, following recent tensions in the Middle East and the United States (US).

According to the DOE, the recent average pump price of gasoline stood at ₱55.9 per liter, diesel at ₱53.40 per liter, and ₱70.22 per liter for kerosene.

Related Tags

Department of Energy (DOE) oil prices

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