Gas up, diesel down Tuesday

Starting Tuesday, Dec 5, gasoline and kerosene prices will increase by P0.30 per liter and P0.20 per liter respectively, while diesel prices will decrease by P0.30 per liter.

Major oil companies such as Chevron Philippines Inc., Petron Corp., Pilipinas Shell Petroleum Corp., Seaoil Philippines Corp., Cleanfuel, Petro Gazz, Phoenix Petroleum Philippines Inc., PTT Philippines Corp., and Unioil Petroleum Philippines Inc. will implement these changes at different times, with some starting at midnight and others at 6 a.m.

The Department of Energy (DOE) attributes the price adjustments to speculation about OPEC+ potentially extending supply cuts, adverse weather conditions in Kazakhstan affecting oil production, and a weaker US dollar leading to higher global oil prices.