Oil firms hike, defer diesel prices in storm-hit areas

Oil firms Seaoil and Jetti have announced price adjustments for diesel and kerosene effective July 29, with other major retailers deferring increases in typhoon-affected regions.

Seaoil will raise diesel prices by PHP0.60 per liter but defer the adjustment in areas hit by recent storms including parts of Regions 1 and 2.

Jetti also plans to increase diesel prices by PHP0.60 per liter, while reducing them by PHP0.10 per liter in certain areas excluding typhoon-affected provinces such as Pangasinan, Pampanga, Bataan, Cavite, Rizal, Bulacan, Oriental Mindoro, and Negros Occidental.

Other fuel retailers like Petron, Caltex Philippines, and Shell Pilipinas also announced delays in raising diesel prices across affected regions, including the National Capital Region and Ilocos provinces.

The price changes reflect international market conditions for refined fuels and freight, with this week's adjustments driven by unexpected declines in US crude inventories indicating strong refinery activity.

Several regions in Luzon and the Visayas were recently hit by severe tropical storms Crising, Dante, and Typhoon Emong, prompting some areas to declare a state of calamity.