On Christmas Eve, fuel prices go up

MANILA, Philippines — Prices of diesel and kerosene products will be increased by over P1 per liter today.

In separate advisories, oil firms said they would implement an increase of P1.15 per liter on diesel and P1.10 per liter on kerosene. There will be no adjustment on gasoline prices.

Chevron Philippines Inc., which operates Caltex stations, will implement the price hike starting 12:01 a.m.

Cleanfuel, Petro Gazz, Phoenix Petroleum Philippines Inc., Pilipinas Shell Petroleum Corp., PTT Philippines Inc. and Seaoil said their price adjustments would take effect at 6 a.m.

Other oil firms have yet to announce their respective price adjustments as of this writing.

Prior to this week’s price movement, year-to-date adjustments stand at a net increase of P6.47 per liter for gasoline, P3.76 per liter for diesel and P0.61 per liter for kerosene, data from the Department of Energy (DOE) showed.

During last week’s trading, global oil prices rose as trade tension continued to ease between the US and China, which boosted expectations of better demand next year.