AFTER weeks of reduction, pump prices will increase by P1.40 per liter beginning Tuesday due to cost upswings driven by higher demand.
Pilipinas Shell, Seaoil, PetroGazz, Unioil, and CleanFuel issued separate advisories on Monday announcing the gasoline price hikes.
On the other hand, diesel and kerosene prices will decline by P0.50 per liter and P0.35 per liter, respectively.
Data from the Department of Energy showed that the cumulative increase in the gasoline price as of November 2 stood at P15.85 per liter, while that for diesel was at P36.80 per liter, and for kerosene, P28.95 per liter.
As of 3 November, the price per liter of gasoline ranges from P59.95 to P71.10 per liter in Quezon City, Metro Manila’s largest city.
Diesel prices range from P75.50 to P80.29 per liter in Makati City, the country’s top financial hub.
In Manila, kerosene sells from P79.46 to P88.50 per liter.
Oil companies announce price adjustments every Monday to be implemented the following day’s morning.
The prices are adjusted weekly based on the movement of the Mean of Platts Singapore — the regional pricing benchmark adopted by the deregulated downstream oil sector.