Gasoline, kerosone prices up by P1 starting Tuesday
There will be no respite from fuel price increases for motorists again this week, with local fuel retailers announcing another round of price adjustments set to take effect on Tuesday, Sept. 23.
In separate advisories on Monday, Jetti Petroleum, Seaoil and Caltex said that per liter, the prices of gasoline and kerosene will both go up by P1.
There will be a relatively lower price increase of 80 centavos per liter for diesel. This marks the sixth straight week of upward price adjustments for gasoline and the fifth straight week for diesel.
Oil companies usually announce their price adjustments every Monday, with the implementation scheduled the next day.
Last week, they imposed price increases ranging from 10 centavos to 50 centavos. Industry sources said late last week that continued geopolitical tensions in some parts of the world were still to blame for rising oil prices.
“The intensified attacks by Ukraine on Russia’s ports and refineries have already impacted Russian supplies, and rising concerns of a broader escalation of the tension in the Middle East are also supporting prices,” Jetti Petroleum president Leo Bellas said.
“Strong diesel demand in Northern Hemisphere countries ahead of the autumn season, and damage to Russian refining infrastructures and export facilities have affected diesel flows, tightening the supply outlook,” he added.
