Major oil firms hike fuel prices effective Tuesday

Several major oil companies in the Philippines announced price increases for petroleum products effective today 24 March.

According to official advisories received on February 23, gasoline prices will rise by P0.60 per liter, while diesel prices will increase by P1.20 per liter across most brands. Kerosene prices will also go up by P1.20 per liter for companies that sell the product.

Affected firms include Shell Pilipinas, Seaoil, Petro Gazz, City Oil, Phoenix Petroleum, Total, Unioil, Jetti Petroleum, Petron, PTT Philippines, Flying V, and Caltex. All price adjustments are VAT inclusive and will take effect from 6:00 AM on 24 February.

The increase comes amid global oil market fluctuations and ongoing logistical costs, impacting consumers nationwide.