Manila: Oil companies announced another round of fuel price increases starting Tuesday, marking the fourth consecutive week of hikes amid ongoing Middle East conflict.
According to Philippines News Agency, in separate advisories Monday, PetroGazz and Unioil said diesel prices will rise by PHP12.50 per liter, while gasoline will increase by PHP2.50 per liter. Seoil also reported a PHP12.50 per liter hike for diesel and a PHP2 per liter increase for kerosene, noting that gasoline prices will remain unchanged.
Shell, meanwhile, announced a PHP12.90 per liter increase for diesel, PHP2.90 per liter for gasoline, and PHP2.40 per liter for kerosene. Jetti will also hike diesel by PHP12.90 per liter and gasoline by PHP1 per liter. Other oil firms have yet to release their price adjustments for the week.
Last week, the Department of Energy reported the arrival of the first diesel shipment under its Emergency Energy Security Program, totaling about 22.58 million liters (142,000 barrels). This shipment aims to bolster the country's fuel supply amid global market volatility. The government stated that the shipment is part of ongoing efforts to reinforce national fuel security and cushion the impact of external disruptions on transportation, industry, and other petroleum-dependent sectors.
