MANILA, Philippines —Local oil firms announced mixed adjustments in the pump prices of petroleum products effective on Tuesday, Oct. 17.
In separate advisories, the companies said they would cut the prices of diesel and kerosene by 95 centavos per liter, while the price of gasoline will increase by 55 centavos per liter.
Caltex will implement the price adjustments by 12:01 a.m., followed by Shell and Seaoil at 6 a.m., and CleanFuel at 4:01 p.m.
This comes after the Department of Energy (DOE) told motorists to “manage [their] expectations” amid the Gaza-Israel conflict, as “we have no control on the supply and prices of oil in the international market.”
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Last week, local oil companies cut the prices of petroleum products by P3.05 per liter for gasoline, P2.45 per liter for diesel, and P3 per liter for kerosene.
READ: Oil firms roll back fuel prices by up to P3.05/liter effective Oct 10
This resulted in a year-to-date net increase of P12.25 per liter for gasoline, P11.35 per liter for diesel and P5.94 per liter for kerosene.
DOE data show that prevailing retail prices in Metro Manila ranged from P57.10 per liter to P84.90 per liter as of Oct. 12.