Oil prices to spike by more P1/L this week
Fuel increase to be implemented after last week's rollback
MANILA: Retail oil prices in the Philippines will be jacked up by more than P1 per liter this week.
KEY TAKEAWAYS
How much is the fuel adjustment for February 20, 2024?
Oil companies are set to raise the retail prices of gasoline by P1.60 per liter, diesel by P1.10 per liter, and kerosene by P1.05 per liter.When will the price adjustments take effect?
The said adjustments shall become effective as early as 12:01 a.m. of February 20, 2024.Based on their respective advisories, Caltex, Cleanfuel, Petron, Seaoil, and Unioil shall raise the price of gasoline pump prices by P1.60 per liter and diesel by P1.10 per liter.
In addition, Caltex, Petron, and Seaoil will add P1.05 per liter on kerosene pricing at the pump.
The movements, which other companies are expected to follow suit, shall commence as early as 12:01 a.m. tomorrow (February 20).
Last week, local oil players slashed P0.60 per liter on gasoline, diesel by P0.10 per liter, and kerosene by P0.40 per liter.
Photos by Ruben Manahan IV
Also read:
Gasoline prices to spike up by almost P3/L tomorrow
Diesel, kerosene price hikes for tomorrow barely misses P1/L mark
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