Philippine News Agency
Pump prices continue to rise with no end in sight
Fuel prices are set to increase for the ninth consecutive week starting Tuesday, March 1, 2022, with gasoline prices rising by P0.90 per liter and diesel by P0.80 per liter.
Several oil companies, including Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell, have announced these price adjustments.
Kerosene prices will also increase by P0.75 per liter.
This marks the ninth consecutive weekly increase in fuel prices, with year-to-date increments for gasoline now at P8.75 per liter, P10.85 per liter for diesel, and P9.55 per liter for kerosene.
Tensions between Russia and Ukraine continue to affect global oil supply and prices, although this is somewhat tempered by the potential return of Iranian barrels to the market.
The Department of Energy noted that the International Energy Agency has raised its 2022 demand outlook, while supply from OPEC+ remains tight with shrinking spare capacity.
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Motorists will face the eighth consecutive week of fuel price increases starting February 22, with gasoline prices rising by P0.80 per liter, diesel by P0.65 per liter, and kerosene by P0.45 per liter.
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Consumers can expect significant pump price increases next week, with diesel possibly rising by P5.40 to P5.50 per liter, gasoline by P3.60 to P3.70 per liter, and kerosene by P3.95 to P4.05 per liter.
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Motorists should prepare for a ninth consecutive week of fuel price increases, with gasoline prices set to rise by P0.90 per liter and diesel by P0.80 per liter starting Tuesday, March 1.
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Filipino consumers face increased costs for liquefied petroleum gas (LPG) in March, with an increase of P7.95 per kilogram.
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The Department of Energy (DOE) is asking consumers to report any oil retail outlets charging unreasonably high prices as oil prices continue to rise for the ninth consecutive week.
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