The various fuel retailers will raise gasoline prices by P0.20 per liter starting Tuesday morning, while prices of diesel and kerosene will be cut by P0.20 per liter.
Jetti Petroleum Inc. president Leo Bellas said the adjustment was mainly due to the weakening of the Philippine peso, which offset the decline in global oil prices. He noted that while international fuel prices have eased, the peso’s depreciation and still-elevated freight and premium costs limited the size of possible rollbacks.
Seaoil, Jetti and PTT will implement the price changes at 6:00 a.m. Tuesday.
Thus far this year, fuel prices have posted net increases of P21.30 per liter for gasoline, P21.75 for diesel, and P6.75 for kerosene.
Based on the latest Department of Energy data, fuel prices in Metro Manila from December 9 to 15 average P57.90 per liter for gasoline, P52.20 for diesel, and P79.67 for kerosene.
