Petroleum pump prices rise up to P1.35/liter starting Tuesday

Petroleum product pump prices will increase this week following two consecutive weeks of reductions, with motorists facing an uptick of up to P1.35 per liter starting Tuesday, April 22.

Seaoil Philippines Corp., Shell Pilipinas Corp., PetroGazz, CleanFuel, Jetti Petroleum, Caltex, and PTT Philippines have announced price hikes of P1.35 per liter for gasoline, P1.30 for diesel, and P1.10 for kerosene.

According to the Department of Energy (DOE), these price increases are due to anticipated global supply tightening following new US sanctions on Iran and planned output cuts by OPEC+.

Despite this week's increase, gasoline still reflects a net rise of P2.30 per liter since last week’s rollback, while diesel shows an overall hike of P2.85 per liter; however, kerosene remains at a net decrease of P1.80 per liter.

For Holy Week, oil companies had previously rolled back prices by slashing the cost of gasoline by P3.60, diesel by P2.90, and kerosene by P3.30 per liter.