Gasoline and Diesel Prices to Increase on Tuesday

Motorists will face higher fuel costs starting Tuesday, September 24, as oil retailers announced a price hike for gasoline and diesel after two consecutive weeks of price rollbacks.

In separate advisories, Cleanfuel, Petro Gazz, Seaoil Philippines Corp., and Shell Pilipinas Corp. confirmed they will raise gasoline prices by P1.10 per liter and diesel by P0.20 per liter. No changes will be made to kerosene prices.

The price adjustments will take effect at 6 a.m. for most firms, except Cleanfuel, which will implement the increase at 4:01 p.m. the same day.

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier predicted a gasoline price hike due to factors like the U.S. interest rate cut, tensions in the Middle East, and changes in Malaysia’s fuel subsidies.

Last week saw fuel price rollbacks, with gasoline down by P1.00 per liter, diesel by P1.30, and kerosene by P1.65.