Pump prices down, LPG prices up

MANILA, Philippines — Pump prices are down for the first week of 2024 while cooking gas prices will go up this month.

In separate advisories yesterday, oil firms said prices would drop by P0.10 per liter for gasoline, P0.35 per liter for diesel and a hefty P1.40 per liter for kerosene.

The price adjustments, which reflect movement in the international oil market, will take effect at 6 a.m. today for most companies except for Caltex and Cleanfuel, which started implementation at 12:01 a.m.

Oil firms last week raised prices by P1.70 per liter for diesel, P1.60 per liter for gasoline and P1.54 per liter for kerosene.

The price adjustments resulted in a year-to-date net increase of P12.60 per liter for gasoline, P5.65 per liter for diesel and P1.24 per liter for kerosene.

Meanwhile, cooking gas prices will rise this January after seeing no movement last month.

Petron yesterday announced it will implement a P3.40 per kilogram increase in LPG prices starting today.

“This reflects the international contract price of LPG for the month of January,” it said.

The price of Solane-branded LPG will go up by P3.45 per kg effective 6 a.m. today.

Prices of 11-kg household LPG ranged from P875 to P1,060, based on the Department of Energy’s price monitoring in Metro Manila from Dec. 3 to 9.