Diesel, kerosene prices going up in Philippines

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Local oil companies are hiking diesel and kerosene prices today, while no adjustments will be made on gasoline prices.

In separate advisories yesterday, oil firms said prices would increase by P0.30 per liter for diesel and by P0.65 per liter for kerosene.

Meanwhile, there will be no movement in the prices of gasoline for this week.

The price hikes, which reflect movement in the international oil market, will take effect at 6 a.m. today for most companies, except for Caltex which started implementing the price adjustments at 12:01 a.m., and Cleanfuel which will make the adjustments by 4:01 p.m.

This week's price adjustments put an end to the four straight weeks of reductions in the prices of diesel and kerosene, as well as three consecutive weeks of declines for gasoline.

Last Tuesday, oil companies cut prices by P0.75 per liter for gasoline, by P0.65 per liter for diesel and by P0.60 for kerosene.

These price adjustments resulted in a year-to-date net increase of P12.30 per liter for gasoline, P5.70 per liter for diesel and P1.09 per liter for kerosene, data from the Department of Energy (DOE) showed.

DOE monitoring from Nov. 21 to 23 showed that prevailing retail prices of diesel and diesel-plus products in Metro Manila ranged from P53.60 to P66.05 per liter and from P57.20 to P79.20 per liter, respectively.

Gasoline prices, meanwhile, ranged from P55 to P84.95 per liter, depending on the RON or research octane number of the fuel.

As for kerosene, prices monitored during the period ranged from P71.40 to P83.95 per liter.