Starting today, several oil companies have announced a price increase of over P1 per liter for petroleum products.
Shell, Caltex, and Seaoil raised prices by P1.35 for gasoline, P1.30 for diesel, and P1.10 for kerosene.
Other companies, including Petro Gazz, Cleanfuel, PTT Philippines, and Jetti, are applying similar adjustments, excluding kerosene.
The Department of Energy (DOE) attributed the hike to new U.S. sanctions on Iranian oil exports and OPEC’s decision to cut production.
This price increase brings the year-to-date net rise for gasoline and diesel to P2.30 and P2.85 per liter, respectively, while kerosene prices have seen a decline of P1.80 per liter.
Source: PhilNews24 | April 22, 2025
