Hefty oil price hikes await motorists

MANILA, Philippines — Oil prices are set to climb by as much as P1.75 per liter today, amid persistent tensions abroad and supply risks.

In separate advisories, Shell, Caltex and Seaoil announced price increases of P1.40, P1.75 and P1.05 per liter for gasoline, diesel and kerosene, respectively.

PetroGazz, Cleanfuel, PTT Philippines and Unioil will also implement the same price movements, except for kerosene which they do not carry.

The latest price adjustments will bring the year-to-date net increases for gasoline, diesel and kerosene to P8.30, P7.75 and P1.40, respectively.

The Department of Energy said last week that the continued geopolitical conflicts and supply chain challenges brought upward pressure on domestic oil prices.