Gasoline prices continue to surge; diesel, kerosene witness rollback

There will be varied price movements in fuel sold at local pumps this week.

In separate advisories this morning, local oil companies confirmed that gasoline prices will climb by 55 centavos per liter—continuing its streak for the sixth straight week.

Meanwhile, diesel and kerosene prices will go down by 95 centavos and P1.10 per liter, respectively.

The price adjustments will be effective starting tomorrow morning, 23 April.

Last week, diesel prices went up by 95 centavos per liter; kerosene by 85 centavos per liter; and gasoline prices by 40 centavos per liter.

Since the beginning of this year until this week, gasoline prices have seen a significant increase of P10.25 per liter, while diesel prices have risen by P6.05 per liter.

Additionally, kerosene prices have experienced an increase of P1.15 per liter.

Oil companies adjust their prices weekly based on the movement of the Mean of Platts Singapore, which is the regional pricing benchmark adopted by the deregulated downstream oil sector.

The Philippines, being a net importer of oil, has no control over the global price movement.