Diesel and kerosene up for 3rd straight week

January 13 ------ Fuel retailers announced another round of hikes in pump prices of petroleum products, marking the third straight week of hikes for both diesel and kerosene.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Seaoil Philippines Corp. and Shell Pilipinas Corp. said they will hike prices per liter of gasoline by P0.30, diesel by P0.20, and kerosene by P0.30.

Cleanfuel, Petro Gazz, PTT Philippines Corp., and Unioil Petroleum Philippines Inc. will implement the same changes, excluding kerosene which they do not carry. The adjustments will take effect at 6 a.m. on Tuesday, January 13, for all the firms except for Cleanfuel which will hike prices at 4:01 p.m. the same day.

Other firms have yet to make similar announcements for the week. The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected rollbacks this week, citing the possibility of a higher Venezuelan crude output, reinforcing expectations of ample global supply amid weak demand. Retailers last week rolled back prices per liter of gasoline by P0.10, and hiked those of diesel by P0.20, and kerosene by P0.10.

Source: gmanetwork.com