Fuel Prices to Rise Again on December 17, Marking 4th Straight Week of Increases

Motorists will face higher fuel costs this week as oil companies announce price hikes for gasoline, diesel, and kerosene effective Tuesday, December 17.

Price Adjustments

• Gasoline and Diesel: ₱0.80 per liter increase
• Kerosene: ₱0.10 per liter increase

These adjustments were confirmed by Seaoil Philippines Corp. and Shell Pilipinas Corp., while Cleanfuel and Petro Gazz will implement the same price hikes, excluding kerosene, which they do not carry.

The price changes take effect at:

• 6:00 AM on December 17 for most firms.
• 4:01 PM on December 17 for Cleanfuel.

Factors Behind the Hike

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) attributes the increases to:

• Rising global demand for fuel.
• Geopolitical tensions in the Middle East.
• Delays in production output increases.

Recent Trends

This marks the fourth consecutive week of gasoline price increases. Last week, prices rose by:

• ₱0.40 per liter for gasoline.
• While diesel prices were rolled back by ₱0.50 per liter and kerosene by ₱0.75 per liter.

Year-to-Date Adjustments

As of December 3, 2024, the net price changes for the year stand at:

• Gasoline: ₱11.35 per liter increase.
• Diesel: ₱9.55 per liter increase.
• Kerosene: ₱1.90 per liter decrease.

Motorists are advised to plan ahead as pump prices continue to climb during the holiday season.