Fuel prices to increase by up to P1.30 per liter starting Tuesday

Updated Mon, October 23, 2023 at 3:18 PM Published Sat, October 21, 2023 at 8:34 AM

Local oil companies are implementing a fuel price increase effective Tuesday, October 24, with gasoline prices rising by P0.95 per liter and diesel by P1.30 per liter.

Kerosene prices will also increase by P1.25 per liter, affecting consumers after four weeks of price rollbacks.

Several companies, including Caltex, Cleanfuel, Seaoil, and Shell, will implement the price adjustments on Tuesday.

The increase is attributed to fears of the impact of the ongoing geopolitical conflict in the Middle East on the global oil market, despite current supply not being affected.

This follows a rollback last week where diesel and kerosene decreased by 95 centavos per liter each, and gasoline dropped by 55 centavos per liter.

As of October 17, gasoline prices in Metro Manila ranged from P57.10 to P85.45 per liter, diesel from P57.80 to P83.90 per liter, and kerosene from P59.40 to P88.14 per liter.

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