OIL companies on Monday announced price adjustments to their petroleum products effective Tuesday.
After three weeks of oil price rollbacks, the companies announced an upward adjustment.
Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. announced that they will implement a price hike of P0.35 per liter for gasoline.
On the other hand, diesel will increase by P1.40 per liter, and kerosene by P1.20.
On the other hand, Cleanfuel will also make the same adjustments except for kerosene that they do not carry.
The changes will take effect at 6 a.m. on Tuesday, May 16. Cleanfule on the other hand which will implement the adjustments at 4:01 p.m. the same day.
Earlier, the Department of Energy (DOE) said that the prices are expected to increase this week with the decline in the inventory in the United States.
According to the latest information from the DOE, the year-to-date net increase of P3.85 per liter for gasoline, and net decreases of P7.05 per liter for diesel, and P7.50 per liter for kerosene as of May 9, 2023.
Catherine R. Cueto