Diesel, gasoline prices up anew

Oil companies increased pump prices for diesel and kerosene for the seventh week in a row as international prices hit their highest in three years amid the seasonally high demand during winter in the northern hemisphere.

Starting 6 a.m. on Tuesday, prices of diesel went up by 50 centavos per liter while those of gasoline went up for the third straight week—this time by 45 centavos per liter.

As of this writing, those that announced price changes included Pilipinas Shell Petroleum Corp., Petron Corp., PTT Philippines Corp., Seaoil Philippines Inc., Eastern Petroleum Corp., Flying V, Phoenix Petroleum Philippines Inc. and Total Philippines Corp.

Shell, Petron, Seaoil and Flying V raised prices of kerosene by 50 centavos per liter.

With the effects of the Tax Reform for Acceleration and Inclusion law, diesel prices in Metro Manila are now within the range of P37.90 to P43.00
a liter.

Gasoline with an octane rating of 95 is now in the range of P47.72 to P57.50 a liter, while kerosene is at P40.21 to P49.85 a liter.

“Oil prices this month have not been so high in three years,” the Department of Energy (DOE) said in a bulletin.

“At the end of 2017 and early 2018, the sentiment turned decisively bullish amid geopolitical concerns…” the DOE said. —RONNEL W. DOMINGO