Prices of gasoline up, diesel down this week

By: Meg Adonis December 04,2023 - 12:11 PM

Gas station


MANILA – Pump prices of gasoline are expected to go up while diesel prices are going down on Tuesday, Dec. 5, as major oil exporters are expected to implement supply cuts.

In separate advisories, local fuel firms announced that the price of gasoline would increase by P0.30 per liter, while diesel prices would go down by P0.30 per liter. The price of kerosene is also expected to rise by P0.20 per liter.

CleanFuel will implement the price adjustments by 12:01 a.m., followed by Petro Gazz and Shell at 6 a.m.

According to the Department of Energy (DOE) Oil Industry Management Bureau, the increase in gasoline prices was triggered by a “storm-related drop in Kazakhstan oil output, softer US dollar and decline in US inventories.”

Last week, oil firms hiked the prices of diesel and kerosene by P0.30 per liter and P0.65 per liter, respectively. Gasoline had no change.

This resulted in a year-to-date net increase of P6 per liter for diesel, P1.74 per liter for kerosene, and P12.30 per liter for gasoline, the DOE said.

READ MORE: Fuel prices in gas stations in Cebu City: Diesel up by 30 centavos per liter

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TAGS: DOE, fuel prices, gasoline

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