Oil firms hike prices a day before Christmas
Fuel retailers will raise the prices of their products a day before Christmas Day, with motorists seeing an increase of up to P1.45 per liter.
In separate advisories issued on Monday, Petro Gazz, Shell Pilipinas, CleanFuel, Seaoil and Jetti announced a P1.45 per liter jump in the price of diesel effective on Dec. 24.
The prices per liter of gasoline and kerosene prices will also go up by 50 centavos and 75 centavos, respectively.
Rodela Romero, the Department of Energy’s (DOE) Oil Industry Management Bureau assistant director, said the increases could be blamed on the strengthening of the US dollar as well as the drop in US crude stocks.
Last week, oil companies imposed an increase of up to 80 centavos in their petroleum products. Data from the DOE as of Dec. 17 showed that since January, gasoline and diesel prices had posted a net increase of P12.55 and P9.85 per liter, respectively.
Kerosene, on the other hand, had a total net decrease of P2.55 per liter.
