Oil firms raise fuel prices again

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Three oil companies increased fuel prices on Tuesday.

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In a text advisory late Monday evening, Petron Corp. announced that it will raise prices by P0.20 per liter for gasoline, P0.25 per liter for kerosene and P0.30 per liter for diesel.

Petron was joined by Chevron Philippines Inc. and Total (Philippines) Corp. in raising fuel prices effective 6 a.m. of Tuesday.

In separate advisories Tuesday morning, Chevron and Total increased gas prices by 20 centavos per liter and diesel prices by 30 centavos per liter.

Chevron raised kerosene price by 25 centavos per liter. Total announced no price change for this product.

The price adjustments reflect “movements in the international oil market and forex.”
The change in oil prices was the fifth for the month of April. On April 22, oil firms raised the price of kerosene by P0.70 per liter and gasoline and diesel by P0.55 per liter.

Two days before the Holy Week, prices of gasoline went up by P.60 per liter and diesel by P.10 per liter. But the price of kerosene was decreased by P0.25 per liter.

On April 8, oil companies reduced the price of diesel by P0.35 per liter, kerosene by P0.30 per liter and gasoline by P0.15 per liter.

Last April 1, they also jacked up by P0.50 per liter the prices of diesel and kerosene, and by P0.10 per liter for gasoline. The price of liquefied petroluem gas (LPG) was slashed by P2.20 per kilogram and P1.23 per liter for auto LPG.

The Department of Energy said that as of April 22, the average price of diesel was posted at P45.05 per liter while gasoline was pegged at P54.05 per liter.

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