Fuel prices slightly up on October 29

MANILA, Philippines — Oil firms announced on Monday, October 28, that fuel prices will slightly increase on Tuesday, October 29, following last week’s rollback.

In separate advisories, Shell Pilipinas, CleanFuel and Caltex said the following adjustments will be implemented:

• Gasoline: Up by P0.20 per liter
• Kerosene: Up by P0.50 per liter
• Diesel: Up by P0.50 per liter  

For Shell Pilipinas and Caltex, the price increase will take effect at around 6 a.m. on Tuesday, while for CleanFuel, it will be effective at 4:01 p.m.

The Department of Energy (DOE) reported that from October 22 to 28, common pump prices among oil companies ranged from P52 to P65.71 for gasoline, P51.60 to P54.60 for diesel and P71.66 for kerosene.

As of October 15, the DOE recorded a year-to-date net increase of P6.75 per liter for diesel and P9.05 per liter for gasoline. 

In contrast, kerosene showed a net decrease of P2.75 per liter. This overall price adjustment is expected to change following this week’s fuel price hike.

The energy department also said on October 15 that price adjustments are influenced by Middle East tensions impacting oil supply and driving up global prices, alongside reduced gasoline and diesel supplies in Asia.

Before last week’s rollback, diesel prices had risen for four consecutive weeks, while kerosene saw increases for three straight weeks.