Fresh round of fuel hikes set today

OIL companies will implement another wave of fuel price hikes of nearly P1 a liter beginning today.

In separate advisories yesterday, January 13, Petron, Shell Pilipinas, Seaoil and Petro Gazz said the per-liter price of diesel would go up by 90 centavos.

Both gasoline and kerosene will have an upward price adjustment of 80 centavos per liter.

The adjustments will take effect at 6 a.m. for all the firms, except for Cleanfuel which will hike prices at 4:01 p.m. the same day.

Rodela Romero, Department of Energy (DOE)-Oil Industry Management Bureau assistant director, also projected late last week that pump prices would move upward this week, with global factors influencing oil prices.

She said these increases could be due to the lower oil production data recorded in December. The robust economy in the United States, a major economic powerhouse, could also impact fuel prices.

The official also said the hikes could be attributed to the ā€œanticipated rise in Asian demandā€ following Chinaā€™s economic stimulus package.

Last week, firms hiked prices per liter of gasoline and kerosene by P1.00 each, and diesel by P1.40.

Adjustments in 2024 stood at a net increase of P12.75 per liter for gasoline and P11 per diesel, and a net decrease of P2.70 per liter for kerosene. (Lisbet K. Esmael Ā© Philippine Daily Inquirer)

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