MOTORISTS are bracing for another round of fuel price hikes as oil companies announced significant increases starting Tuesday, January 21, marking the third consecutive week of upward adjustments.
Chevron Philippines Inc. (Caltex) and Shell Pilipinas Corp. revealed in separate advisories that prices per liter will rise by ₱1.65 for gasoline, ₱2.70 for diesel, and ₱2.50 for kerosene. Cleanfuel will implement the same adjustments, excluding kerosene, which it does not offer.
The new prices take effect at 6 a.m. for most companies, while Cleanfuel will adjust prices at 4:01 p.m. Other fuel retailers have yet to release their announcements for the week.
The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier forecasted the increases, attributing them to new sanctions imposed on Russian oil by the United States and the United Kingdom.
This follows last week’s adjustments, which saw price hikes of ₱0.80 per liter for gasoline and kerosene, and ₱0.90 for diesel. As of January 14, 2025, year-to-date price adjustments have reached a net increase of ₱1.80 per liter for gasoline and kerosene, and ₱2.30 for diesel.
Motorists are advised to plan accordingly as fuel costs continue to climb.