THERE will be another oil price hike for the seventh consecutive week on Tuesday, February 24, 2026.
In their respective advisories, Pilipinas Shell, Cleanfuel, PetroGazz, PTT, Caltex and Seaoil said there will be a P1.20 per liter increase for diesel and kerosene and P0.60 per liter on gasoline.
The adjustments will take effect 6 a.m. onwards.
The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier said the adjustment was due to the combination of geopolitical tensions, supply expectations, inventory movements, and market sentiment. (TPM/SunStar Philippines)