Beginning Tuesday, oil products will retail higher following two weeks of price cuts.
Seaoil increased its per liter prices by P1.40 for gasoline, P0.50 for diesel and P0.20 for kerosene.
PTT and Phoenix Petroleum raised its per liter price by P1.40 for gasoline and P0.50 for diesel.
Caltex Philippines Inc. increased its gasoline by P1.40 per liter (Platinum and Silver brands), diesel by P0.50 per liter and kerosene by P0.20 per liter.
The adjustments were traced to the tightening of petroleum supplies.
According to the Department of Energy (DOE), the average price per liter of gasoline (RON95) is P61.65, diesel at P56.80 and kerosene at P69.23.
The year-to-date adjustments based on data from the Department of Energy (DOE) is a net decrease of P4.15 per liter for diesel, P5.55 per liter for kerosene but a net increase of P4.65 per liter for gasoline.
Reuters reported that as of Friday last week, Brent futures for June delivery improved by 1.6 percent at $79.89 a barrel while West Texas intermediate crude for May delivery settled 1.8 percent higher at $75.67 a barrel,
Other factors pushing fuel prices higher include the rise in US personal consumption expenditure index indicating that inflation is slowing even as oil producers agree to limit output in several oilfields across OPEC or the Organization of Petroleum Exporting Countries.
14-WEEK FUEL PRICE MOVEMENT BREAKDOWN
| DATE | GASOLINE | DIESEL | KEROSENE |
| JANUARY 3 | +2.90 | +2.10 | +3.05 |
| JANUARY 10 | -0.75 | -2.80 | -2.10 |
| JANUARY 17 | +0.95 | +0.50 | -0.15 |
| JANUARY 24 | +2.80 | +2.25 | +2.40 |
| JANUARY 31 | +1.30 | +1 | +1.35 |
| FEBRUARY 7 | -2.10 | -3 | -2.30 |
| FEBRUARY 14 | – | -2.20 | -2.50 |
| FEBRUARY 21 | +0.90 | +1.05 | -0.25 |
| FEBRUARY 28 | -0.70 | -1.30 | -1.80 |
| MARCH 7 | +0.40 | +1.50 | +1.25 |
| MARCH 14 | +1 | -0.10 | -0.60 |
| MARCH 21 | -1.20 | -1.85 | -2 |
| MARCH 28 | -0.85 | -1.30 | -1.90 |
| APRIL 4 | +1.40 | +0.50 | +0.20 |
| TOTAL | 6.05 | -3.65 | -5.35 |
