Oil companies set mixed fuel price movements starting November 5
FILE PHOTO: Fuel pump. – Oil companies in the Philippines will implement mixed adjustments for the prices of petroleum products starting Tuesday, November 5, 2024. Seaoil, PetroGazz, CleanFuel, and Shell Pilipinas said the per-liter price of gasoline will decrease by 10 centavos while diesel and kerosene will increase by 75 centavos and 50 centavos a liter, respectively. Associated Press
Oil companies will implement mixed adjustments for the prices of petroleum products starting Tuesday, November 5.
Seaoil, PetroGazz, CleanFuel, and Shell Pilipinas said the per-liter price of gasoline will decrease by 10 centavos while diesel and kerosene will increase by 75 centavos and 50 centavos a liter, respectively.
Rodela Romero, director of the Department of Energy (DOE) Oil Industry Management Bureau, earlier said the potential increase could be attributed to the positive outlook on the fuel demand of the United States, tighter Asian regional supplies, and geopolitical risks, particularly the ongoing war in the Middle East.
READ: Fuel prices set to increase this week
Article continues after this advertisementLast week, oil companies raised the pump prices by up to 50 centavos per liter.
The latest price movements pushed the year-to-date adjustments for gasoline and diesel to a net increase of P8.75 and P6.55 per liter, respectively. Kerosene, on the other hand, has declined by P3.10 per liter since January.
