Double-digit fuel hike: Diesel, kerosene prices climb again
by Ian Laqui · philstarMANILA, Philippines — Oil companies have implemented a double-digit increase in diesel and kerosene products on Tuesday, March 24.
In separate advisories, oil firms UniOil, SeaOil will implement the following adjustments:
- Kerosene: P20.90 per liter
- Diesel: P16.80 per liter
- Gasoline: P9.70 per liter
Petron will have an adjustment of P10.50 for gasoline per liter, P17.50 per liter for diesel and P21.50 per liter for kerosene.
Meanwhile, Cleanfuel will implement a staggered increase of P8.40 per liter for diesel.
The price adjustment was implemented by UniOil, SeaOil, and Petron at 6 a.m.
In a press briefing on Tuesday, March 24, Energy Secretary Sharon Garin said that oil firms Caltex and Total will also implement staggered increases.
Caltex will have a five-day staggered increase while Total has two days.
As of writing, they have yet to post their advisories.
Despite the fuel price hikes of other oil companies, PetroGazz has implemented a rollback since March 20.
On March 23, they also implemented a P5 decrease in fuel prices in some of their branches nationwide.
The oil price hike was implemented amid the shortage of oil supply due to the Middle East crisis.
The government previously said that the country’s supply is enough to cover at least 60 days.
In order to conserve the country’s depleting supply, the Department of Energy said that it authorized the importation of Euro 2 petroleum products, which produce higher emissions than the Euro 4 standard available in the country.
This is a developing story