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Starting on Tuesday, oil companies will dramatically increase the price of diesel and kerosene goods while only increasing gasoline prices by less than 50 centavos.

Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, and Shell announced separate gasoline and diesel price increases, each by PHP0.35 per liter.

Kerosene prices at Caltex, Seaoil, and Shell would also increase by PHP1.20 per liter.

The most recent price changes ended three weeks of price reductions for gasoline and kerosene and four weeks for diesel.

Following last week’s price changes, gasoline costs have increased by PHP7.45 since the beginning of the year, while diesel and kerosene costs have decreased by PHP2.75 and PHP3.80 per liter, respectively.

OilPrice.com reports that analysts and banks anticipate higher oil prices by the end of 2023 despite the year’s beginning slowly.

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