MIXED OIL PRICE MOVEMENTS EFFECTIVE DECEMBER 10

Gasoline prices will once again go up for three consecutive weeks, while diesel and kerosene will have a price rollback in the second week of December (Photo courtesy of Adobe Stock)

Fuel prices continue to have mixed movement in the second week of December, gasoline prices will increase for the third straight week, while diesel and kerosene will go down.

In separate advisories, petrolem companies announced the following changes in pump prices effective December 10, Tuesday:

Shell Pilipinas, Seaoil, Caltex, Petron (effective 6 a.m.)

Gasoline - P0.40/liter increase

Kerosene - P0.75/liter decrease

Diesel - P0.50/liter decrease 

Petrogazz, Jetti Petroleum, Unioil, PTT (effective 6 a.m.)

Gasoline - P0.40/liter increase

Diesel - P0.50/liter decrease

Cleanfuel (effective 12:01 a.m.)

Gasoline - P0.40/liter increase

Diesel - P0.50/liter decrease

The Department of Energy's Oil Industry Management Bureau (DOE-OIMB) and other industry sources attributed this week's price movements to international developments, including the geopolitical climate in the Middle East between Israel and Hezbollah, the anticipated output hike delays, the bearish demand for 2025, and the strengthening of the US dollar.

Firms last week hiked prices per liter of gasoline by P0.90, while rolling back those of diesel by P0.20, and kerosene by P0.40.

Year-to-date adjustments stood at a net increase of P10.45 per liter for gasoline and P9.75 per liter for diesel, and a net decrease of P1.50 per liter for kerosene as of November 26, 2024.

Source: ABS-CBN News 

Be part of ImHenyo community!

Get featured by sharing your stories, news, and comments

Email us at [email protected]