Oil companies in the Philippines will implement staggered fuel price increases this week, with total adjustments expected to reach as much as P24.25 per liter for diesel and over P10 per liter for gasoline, according to the Department of Energy (DOE).
Industry players including Pilipinas Shell Petroleum Corporation, Petron Corporation, Chevron Philippines, Jetti Petroleum and Seaoil Philippines will implement staggered increases across several days instead of being imposed in a single adjustment.
Shell will raise gasoline prices by a total of about P8.75 per liter, diesel by P24.25 per liter, and kerosene by P36.00 per liter through successive adjustments beginning March 10.
Petron will also implement cumulative increases of about P8.80 per liter for gasoline, P19.20 per liter for diesel, and P32.00 per liter for kerosene, also implemented in multiple stages starting Tuesday.
Chevron, which operates the Caltex brand, plans smaller daily adjustments, including around P1.00 per liter for gasoline and P2.50 per liter for diesel per day until March 16.
Jetti Petroleum said its increases will also be spread over several days, with gasoline adjustments totaling around P9.00 per liter and diesel about P19.00 per liter.
Seaoil Philippines, meanwhile, indicated potential cumulative increases ranging from P11 to P13 per liter for gasoline, P21 to P23 per liter for diesel, and P33 to P35 per liter for kerosene over several days of adjustments.
DOE Secretary Sharon Garin earlier said the staggered implementation was agreed upon by oil companies to ease the impact on consumers, noting that the coming adjustment could mark the largest single weekly increase in fuel prices in recent years as global oil markets react to escalating tensions in the Middle East.
