Diesel Price Rise for 6-Straight Weeks; Gasoline Price Up, Kerosene Down

Diesel price will rise for the sixth-consecutive week, while gasoline price once again increases after a week of rollback.

Oil firms Caltex, Cleanfuel, Petro Gazz, and Seaoil announced in separate advisories that their diesel price will rise by PHP0.25 per liter.

Gasoline prices for all the said firms except for Cleanfuel will also increase by PHP0.15 per liter.

Meanwhile, kerosene price will go down. Caltex and Seaoil also announced in their advisories that their kerosene price will go down by PHP0.15 per liter, with other oil firms expected to follow through their own announcements.

Oil prices mostly have gone up for over a month as market optimism globally continue to surge. China, Europe, and the United States continue to lead in growing demand for oil products as they continue their vaccine drive.

However, global market price for oil is still affected by the recent coronavirus disease 2019 (COVID-19) surge in countries such as India and Japan.

Year-by-year comparison data by the Department of Energy says that the current gasoline price in the Philippines is higher by PHP8.35 per liter than that of last year, where the country was in the height of the Enhanced Community Quarantine.

Moreover, diesel price currently is higher by PHP6.95 per liter compared to last year, while kerosene price is higher by PHP6 per liter compared to last year’s price. (GFB)