Gasoline Prices Increase; Diesel, Kerosene Continue Price Rollback

Gasoline prices are once again on the rise after weeks of consecutive oil price rollbacks, while diesel and kerosene prices continue to decrease.

This comes as multiple oil firms in the country announced the latest oil price adjustments for the first week of August.

Oil firms Caltex, Flying V, Seaoil, and Shell announced in separate advisories that they will increase their gasoline prices by PHP0.75 per liter, while their diesel prices will go down by PHP0.60 per liter, and their kerosene prices to also roll back by PHP0.75 per liter.

Moreover, oil firms Cleanfuel, Petro Gazz, Phoenix Petroleum Philippines Inc., and PTT Philippines Corp. will also implement the same adjustments sans kerosene, which they do not offer as a product.

Meanwhile, multiple oil firms also announced a roll back to the price of their liquefied petroleum gas (LPG).

Petron said in an announcement that they will roll back their LPG price by PHP2.05 per kilogram, while also decreasing the price of AutoLPG by PHP1.15 per liter.

Eastern Petroleum also announced a reduction of PHP1.70 per kilogram to their Eastern EC Gas LPG.

This effectively reduces the price of the regular 11-kilogram LPG to around PHP18-22 this month.

The reduction of LPG prices follows the trend for recent months as this month’s reduction is the fourth consecutive month LPG prices have come down.

The year-to-date adjustments for gasoline currently stand at a net increase of PHP18.90 per liter, diesel at a net increase of PHP32.95 per liter, and kerosene at a net increase of PHP28.05 per liter as of July 26, 2022, according to data from the Department of Energy. (GFB)