Fuel companies are set to impose another round of price increases on gasoline, diesel, and kerosene starting Tuesday, November 26, 2024.
For the week of November 26 to December 2, 2024, gasoline prices will rise by P1.15 per liter, effectively reversing the previous week’s P0.85 rollback. Diesel prices will see an increase of P1.10 per liter, while kerosene will go up by P0.80 per liter.
The price adjustments will take effect at 6 a.m. on Tuesday for Shell Pilipinas, Caltex, PetroGazz, and Seaoil. Cleanfuel, however, will apply the changes later in the day at 4:01 p.m.
The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) previously anticipated this week’s price hike, attributing it to rising geopolitical tensions involving Russia, the potential risk of plant closures in the region, and an oil production outage in Norway.
With these new hikes, gasoline and diesel prices will have increased by P10.45/L and P9.75/L, respectively, since the start of 2024. In contrast, kerosene prices will reflect a net decrease of P1.50/L over the same period. (TCSP)
