Metro Manila, Philippines – Local petroleum companies announced another price hike on Monday, Feb. 23, effective Tuesday, Feb. 24, marking a continuous two-month rise in oil prices.
The following price adjustments will apply:
- Gasoline – P0.60/L
- Diesel – P1.20/L
- Kerosene – P1.20/L
The fuel price movement marks the ninth consecutive week of increase for diesel and kerosene, and the seventh for gasoline.
Geopolitical tensions between US and Iran and higher demand remain to be a significant factor in the increasing pump prices as cited by Energy officials and experts.
Shell Pilipinas Corp. and SEAOIL said they will implement the adjustments.
CleanFuel and PetroGazz will apply the same increases, except for kerosene, which they don’t offer.
Other fuel companies have yet to announce changes in their fuel pricing.
