Gas up by P0.70, diesel, kerosene down starting Tue

Oil companies announced on Monday that gasoline prices will increase by P0.70 per liter while diesel and kerosene prices will decrease starting Tuesday, February 4.

Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell are implementing these changes at different times throughout the day; Caltex, Seaoil, and Shell will also cut kerosene prices by P0.90 per liter while diesel prices will drop by an additional P1.15 per liter.

For all firms except Cleanfuel, price adjustments will take effect at 6 a.m., while Cleanfuel will implement changes starting at 8:01 a.m.

According to the Department of Energy (DOE), before these price adjustments, fuel prices had net increases of P2.65 per liter for gasoline, P4.80 per liter for diesel, and P3.80 per liter for kerosene.

This is the second consecutive week of a rollback on diesel and kerosene prices, with DOE attributing the price cuts to increased crude oil production projections amid the United States' pro-drilling policies.