Inquirer
Fuel prices up anew by almost P1/liter
Motorists can expect fuel prices to increase this week, with retailers announcing pump price hikes for gasoline, diesel, and kerosene effective June 10.
Specifically, gasoline prices will increase by P0.60 per liter, diesel by P0.95 per liter, and kerosene by P0.30 per liter.
Several companies including Chevron Philippines Inc. (Caltex), Petron Corp., Seaoil Philippines Corp., and Shell Pilipinas Corp. will implement these adjustments.
Cleanfuel, Petro Gazz, and PTT Philippines Corp. will implement the same changes for gasoline and diesel.
The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) had previously projected these price hikes.
Factors contributing to the anticipated rise include geopolitical tensions between Russia and Ukraine, supply concerns amid wildfires in Canada, and a significant drawdown in US crude oil inventories.
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