Gasoline and diesel prices up, kerosene slightly down

MANILA, Philippines — Pump prices of gasoline and diesel will be raised by P0.90 and  P1.05 per liter, respectively, starting Tuesday, Feb 21.

The price of kerosene will be rolled back by P0.25 per liter.

In separate advisories on Monday, local oil firms announced their  fuel price adjustment schedule:

Shell

Gasoline: +P0.90 per liter

Diesel: +P1.05 per liter

Kerosene: -P0.25 per liter

Cleanfuel (4:01 p.m.)

Gasoline: +P0.90 per liter

Diesel: +P1.05 per liter

PetroGazz (6 a.m.)

Gasoline: +P0.90 per liter
Diesel: +P1.05 per liter

Jetti Petroleum (6 a.m.)

Gasoline: +P0.90 per liter

Diesel: +P1.05 per liter

PTT Philippines (6 a.m.)

Gasoline: +P0.90 per liter

Diesel: +P1.05 per liter

Seaoil (6 a.m.)

Gasoline: +P0.90 per liter

Diesel: +P1.05 per liter

Kerosene: -P0.25 per liter

Caltex (12:01 a.m.)

Gasoline: +P0.90 per liter

Diesel: +P1.05 per liter

Kerosene: -P0.25 per liter

The price hikes come after two weeks of fuel price rollbacks.

According to the Department of Energy, the two main reasons for the upward price adjustment are Russia’s plan to cut crude

production and the International Energy Agency’s announcement raising its global oil demand forecast for 2023.

Price adjustments were anchored on the Mean of Platts Singapore (MOPS), which is the pricing reference of the oil companies in the domestic deregulated downstream oil industry.

Estimates were made based on the four-day trading average in the global oil market from Feb. 13 to 16.

-with a report from Jordeene B. Lagare

READ:

Oil firms seen jacking up local pump prices on Feb 21