FOR the third consecutive week, prices of petroleum products will increase again on Tuesday, January 23, 2024.
In their respective advisories, Cleanfuel, Pilipinas Shell and Seaoil said there will be a P1.30 per liter hike on gasoline and P.95 per liter on diesel, while there will be no price adjustment on kerosene.
Pilipinas Shell and Seaoil will implement the price adjustment at 6 a.m. of January 24 while Cleafuel will have it effective at 4:01 p.m.
As of January 16, 2024, the Department of Energy said the year-to-date adjustments stood at a net increase of P0.65 per liter for diesel and P0.30 per liter for gasoline, and a net decrease of P0.40 per liter for kerosene.
The price increases come on top of last year’s (Jan. 1 to Dec. 26, 2023) net increase of P12.60 per liter for gasoline, P5.65 per liter for diesel and P1.24 per liter for kerosene.
Last year's net increases already came on top of 2022’s net increase of P14.90 per liter for gasoline, P27.30 per liter for diesel, and P21.30 per liter for kerosene (Jan. 1 to Dec. 28, 2022), the year Russia began its invasion of Ukraine in February, roiling energy markets worldwide. (TPM/SunStar Philippines, CTL)