Nearly Php 3 per liter fuel price hike set on Jan. 24

MANILA, Philippines — The pump prices of gasoline, diesel, and kerosene will increase by nearly P3 per liter starting Tuesday, Jan. 24.

Local oil firms announced on Monday the following price adjustments:

Shell (6 a.m.)

Gasoline: +P2.80 per liter

Diesel: +P2.25per liter

Kerosene: +P2.40

Cleanfuel (4:01 p.m.)

Gasoline: +P2.80 per liter

Diesel: +P2.25per liter

Kerosene: +P2.40

In its price monitor update on Jan. 17, the Department of Energy (DOE) said the total adjustments in 2023 stood at a net increase of P3.10 per liter for gasoline, P0.80 per liter for kerosene; and diesel at a net decrease of P0.20 per liter.

Local fuel prices are based on the average Mean of Platts Singapore (MOPS).

MOPS is the daily average price of refined petroleum products in Singapore trading. It is used for pricing petroleum products in Southeast Asia.

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