For the second week in a row, motorists will face another increase in gasoline prices, while diesel and kerosene rates are set to decline, according to advisories from major oil firms.
Chevron Philippines (Caltex), Petron Corp., Seaoil Philippines, and Shell Pilipinas announced that gasoline rates will rise by ₱0.10 per liter. At the same time, the cost of diesel will drop by ₱0.20, and kerosene prices will decrease by ₱0.40 per liter.
Cleanfuel, Petro Gazz, and PTT Philippines Corp. will adopt identical adjustments, excluding kerosene, which these companies do not distribute.
These price modifications will take effect at 6:00 a.m. on Tuesday, May 27, across most firms. Cleanfuel, however, will start implementing changes at 8:01 a.m. on the same day.
As of now, other fuel retailers have not yet issued price bulletins for the week.
Last week, motorists were hit with a more significant increase, as gasoline and kerosene surged by ₱1.20, while diesel jumped by ₱1.70 per liter.
According to the Department of Energy’s Oil Industry Management Bureau (DOE-OIMB), the current price fluctuations are attributed to a mix of global developments. These include advancing US-Iran nuclear deal discussions, improving US-China trade relations, enhanced crude storage capacity in Iran, and renewed optimism in global oil demand.
These factors continue to influence the local retail fuel market, prompting weekly price changes.
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