MANILA, Philippines — Fuel companies are poised to raise the price of diesel by as much as P1.40 per liter starting Jan. 7.
In separate advisories on Monday, PetroGazz, Shell Pilipinas, Seaoil, Cleanfuel, and Caltex said that the prices per liter of gasoline and kerosene would also go up by P1. Rodela Romero, Department of Energy-Oil Industry Management Bureau assistant director, earlier said the price hikes in petroleum products were due to oil production cuts set until April.
READ: Fuel price rollback seen at start of 2025
“[The] United States and Europe faced potentially severe cold blasts in January, boosting demand for heating fuels,” she explained. She added that geopolitical tensions and conflict in the trade sector could result in “short-term oil price volatility.”
Last week, oil companies implemented a rollback of 30 centavos per liter for diesel and gasoline and 90 centavos per liter for kerosene. —Lisbet K. Esmael