FUEL retailers are set to implement mixed adjustments to pump prices this week. Gasoline prices will increase for the third consecutive week, while diesel and kerosene prices will decrease for the second straight week.
In separate advisories, Seaoil Philippines Corp. and Shell Pilipinas Corp. announced a price hike of P0.40 per liter for gasoline, alongside rollbacks of P0.50 per liter for diesel and P0.75 per liter for kerosene. Cleanfuel and Petro Gazz will implement the same adjustments, excluding kerosene, which they do not offer.
The new prices will take effect at 6 a.m. on Tuesday, December 10, except for Cleanfuel, which will implement the changes earlier at 12:01 a.m.
Other fuel firms have yet to release announcements regarding price adjustments for the week.
According to the Department of Energy-Oil Industry Management Bureau (DOE-OIMB), the adjustments align with earlier projections of a gasoline price hike and rollbacks for diesel and kerosene. These shifts reflect ongoing uncertainties in the geopolitical climate in the Middle East, anticipated delays in production hikes, bearish demand forecasts for 2025, and the strengthening of the US dollar.
Last week, gasoline prices increased by P0.90 per liter, while diesel and kerosene prices decreased by P0.20 per liter and P0.40 per liter, respectively.
As of November 26, 2024, year-to-date adjustments show a net increase of P10.45 per liter for gasoline, P9.75 per liter for diesel, and a net decrease of P1.50 per liter for kerosene.