Oil firms hike gas prices today

MANILA, Philippines, October 14 ------ Oil companies raised pump prices again today, marking the eighth increase in gasoline rates in nine weeks. In separate advisories, Jetti, Seaoil, Petron and PTT Philippines announced a P0.30-per-liter increase in gasoline prices and a P0.20-per-liter rollback for kerosene.

Diesel prices, meanwhile, remain unchanged. “Diesel held firm even while slightly easing, with movement mirroring broader crude markets, which steadied on the lower-than-expected OPEC+ output increases in November,” said Jetti president Leo Bellas. “Gasoline remained supported due to rising domestic demand from China and India, as well as strong spot demand from Indonesia,” he added.

With the latest adjustments, the year-to-date net increases now stand at P15.20 per liter for gasoline, P17.85 for diesel and P5.45 for kerosene. Last week, oil firms hiked diesel prices by P0.80 per liter and gasoline and kerosene by P0.20 per liter each.

Source: philstar.com