Oil companies are set to implement price adjustments beginning Tuesday (February 25).
Based on Shell’s advisory, their diesel, gasoline, and kerosene prices will go up by P0.20/liter, P0.30/liter, and P0.35/liter respectively. The said prices will be effective on Tuesday at 6:00 a.m.
Petro Gazz will also implement the same price hike on their diesel (P0.20/liter), and gasoline (P0.30/liter).
Meanwhile, Cleanfuel is set to implement their price adjustments on Wednesday (February 26) at 12:01 a.m. Their diesel price will be up by P0.20/liter while gasoline price will increase by P0.30/liter.—AAC
MANILA, Philippines — Local prices of petroleum products will be adjusted anew this week.
In separate advisories, Pilipinas Shell Corp. and SEAOIL Philippines Inc. said they will reduce the price of gasoline by P0.10 liter while hiking the prices of diesel by P0.40 and kerosene by P0.30 a liter.
Petro Gazz, Cleanfuel, and Phoenix Petroleum Inc. also announced the implementation of the same charges except for kerosene which they do not carry.
The adjustment in pump prices will take effect on Tuesday, January 7.
MANILA, Philippines – The last tranche of excise tax on fuel will take effect from January to April next year.
This means that the price of gasoline will have an additional P1.12/L; additional P1.68/L on diesel; additional P1.12/L on kerosene and P1.12/L on liquefied petroleum gas (LPG).
In line with this, the Department of Energy (DOE) has previously advised oil companies to submit their respective inventory reports on or before December 31 to make sure that the provisions regarding excise tax on fuel products are properly enforced.
Likewise, the DOE warned oil retailers that they can only impose the second round of the tax hike “on new inventories imported or produced from local refineries in 2019.”
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