Gasoline Prices Rise for Third Week, Diesel and Kerosene Roll Back

Fuel retailers will implement mixed price adjustments this week, with gasoline prices increasing for the third consecutive week, while diesel and kerosene prices decrease for the second straight week.

Price Adjustments Effective December 10

• Gasoline: Increase by ₱0.40 per liter.
• Diesel: Decrease by ₱0.50 per liter.
• Kerosene: Decrease by ₱0.75 per liter.

Adjustments will take effect at:

• 6:00 AM for most retailers, including Chevron Philippines (Caltex), Petron Corp., Seaoil Philippines, and Shell Pilipinas.
• 12:01 AM for Cleanfuel.

Market Trends

The Department of Energy’s Oil Industry Management Bureau (DOE-OIMB) attributed this week’s adjustments to:

• Geopolitical uncertainties in the Middle East.
• Delays in anticipated output hikes.
• Bearish demand forecasts for 2025.
• Strengthening of the US dollar.

Previous Adjustments

Last week, gasoline prices rose by ₱0.90 per liter, while diesel and kerosene prices fell by ₱0.20 and ₱0.40 per liter, respectively.

Year-to-Date Adjustments

As of November 26, 2024, fuel price adjustments stood at:

• Gasoline: Net increase of ₱10.45 per liter.
• Diesel: Net increase of ₱9.75 per liter.
• Kerosene: Net decrease of ₱1.50 per liter.

This week’s changes mark a continuation of fluctuating fuel prices amid volatile global markets, emphasizing the importance of monitoring trends for both consumers and businesses.