Oil firms are set to increase pump prices for the third time in August by 50 centavos per liter for gasoline and 15 centavos per liter for diesel.
Pilipinas Shell, Caltex, Seaoil, Eastern Petroleum and Phoenix Petroleum advised that they will implement the price adjustments effective on Tuesday, August 30, at 6 a.m.
Shell, Seaoil and Caltex will also raise kerosene prices by 20 centavos per liter, effective also on Tuesday, August 30, at 6 a.m.
Department of Energy data as of August 2 showed that most oil companies increased gasoline prices by P1.35 per liter and diesel and kerosene prices by P1.45 per liter.
These price movements brought the year-to-date adjustments of gasoline and diesel at net increases of P1.99 and P4.78 per liter, respectively.
Liquefied petroleum gas (LPG) remained at a net decrease of P8.48 per kilogram (kg).
As of August 23, retail prices in Metro Manila for diesel were between P24.85 and P28.250 per liter with common price of P27.30; gasoline, between P35.20 and P42.25 with common price of P40.40; and LPG, between P392 and P620 per P11 kilogram cylinder.