LOCAL petroleum companies will implement a price increase on gasoline and price rollback on diesel and kerosene.

In their respective advisories, Caltex, Shell Petroleum Corp. and Seaoil Philippines Inc. said gasoline prices will increase by P3.95 per liter, while diesel and kerosene prices will be cut down by P2.30 and P2.45, respectively.

Cleanfuel, Petro Gazz, and Unioil Petroleum Philippines Inc. will also implement the same adjustment except for kerosene, which they do not carry.

Shell, Seaoil, Petro Gazz and Unioil will implement the change at 6 a.m. Tuesday, May 24; Caltex at 12:01 a.m.; and Cleanfuel at 8:01 a.m.

The oil price crisis in the country has been driven by the conflict in Ukraine brought about by the Russian invasion.

The Department of Energy said that year-to-date adjustments as of May 10 stand at a net increase of P22.00 per liter for gasoline, P34.50 per liter for diesel, and P29.75 per liter for kerosene. (SunStar Philippines)