Starting December 3, Chevron Philippines, Seaoil Philippines, and Shell Pilipinas will increase gasoline prices by P0.90 per liter, marking the second consecutive week of price hikes for the fuel. In contrast, diesel prices will be reduced by P0.20 per liter, and kerosene will see a price drop of P0.40 per liter.
Other oil companies, including Cleanfuel and Petro Gazz, will follow suit with the same price adjustments, though Petro Gazz does not sell kerosene. This price shift follows a recent surge in gasoline prices and is in line with the Department of Energy’s projections for mixed price movements in the coming week.
The price changes are influenced by a combination of factors, including a ceasefire between Israel and Hezbollah, a decline in consumption in China, and ongoing production cuts. Last week, oil companies raised gasoline prices by P1.15, diesel by P1.10, and kerosene by P0.80 per liter, bringing the year-to-date net increases to P10.45 per liter for gasoline and P9 for diesel.
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