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