Fuel prices going up this week

MANILA, Philippines — Motorists should brace for fuel price hikes of as much as P0.80 per liter today, with gasoline going up for the fourth straight week.

In separate advisories, Shell, Caltex and Seaoil announced an upward adjustment of P0.80 per liter for gasoline and diesel and P0.10 per liter for kerosene.

PetroGazz, Cleanfuel, PTT Philippines and Jetti would implement the same price movements, except for kerosene, which they do not offer.

The price hikes, according to the Department of Energy, were due to the bullish outlook on global primary energy demand.

S&P Global Commodity Insights said energy demand is likely to grow by around nine million barrels of oil per day (MMBD) this year and further increase by over eight MMBD in 2025.