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Gasoline, diesel prices up for 8th straight week

July 19, 2021 - Monday 8:07 PM by PNA

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MANILA – Prices of gasoline and diesel continue to increase for eight straight weeks now, while kerosene prices will go up anew starting Tuesday morning.

In separate advisories on Monday, Caltex, Petro Gazz, PTT Philippines, Seaoil, Shell, and Total said they will increase prices of gasoline by 10 centavos per liter, and of diesel products by 30 centavos per liter. 

Cleanfuel will only increase diesel by 30 centavos per liter.

Caltex, Seaoil, and Shell will also increase kerosene prices by 30 centavos per liter.

Other oil firms are expected to follow suit.

According to the Department of Energy’s (DOE) oil monitor bulletin, although crude oil prices in the world market have been increasing, long-term supply uncertainties and demand concerns brought by increasing coronavirus disease 2019 (Covid-19) cases due to new variants kept prices below recent highs.

“(T)he rapid spread of the coronavirus Delta variant has stoked concerns that a resurgence of Covid-19 pandemic could slow bullish demand growth expectations,” the DOE bulletin said.

Meanwhile, year-to-date adjustments of oil prices resulted in a PHP13.50 per liter net increase on gasoline, PHP10.60 per liter increase on diesel, and PHP9 per liter increase on kerosene. Kris Crismundo