MANILA, Philippines — Oil companies are set to introduce a diverse range of price adjustments on Tuesday, November 28, marking the conclusion of nearly four weeks of consecutive price rollbacks.
Diesel prices are expected to increase by P0.20 to P0.50 per liter while kerosene prices might go up by P0.30 to P0.50 per liter.
Gasoline prices may remain constant or rise by P0.30 per liter.
On the previous Friday, Rodela Romero, the assistant director of the Department of Energy's Oil Industry Management Bureau, linked the price shifts to reduced production within OPEC+ and the weekly surge in US crude inventories.
Last Tuesday, oil firms implemented a price decrease for gasoline, diesel, and kerosene by P0.75, P0.65, and P0.60 per liter, respectively.
DOE's data on November 21 showed year-to-date increase of P12.30 per liter for gasoline, P5.70 per liter for diesel, and P1.09 per liter for kerosene.
Oil companies will announce their respective price adjustments on Monday and will be effective on Tuesday.