FUEL RETAILERS said they will defer price increases on diesel this week in typhoon-hit areas.
In separate advisories, Jetti Petroleum, Inc., Seaoil Philippines, Petron Corp., Caltex Philippines, and Shell Pilipinas Corp. announced delays in raising diesel prices in selected areas.
Jetti will not raise prices in the National Capital Region, as well as the provinces of Pangasinan, Pampanga, Bataan, Cavite, Rizal, Bulacan, Oriental Mindoro, and Negros Occidental.
Seaoil suspended the diesel price adjustment across the Ilocos Region and the Cagayan Valley.
Petron postponed the scheduled price hike in La Union, Ilocos Sur, Pampanga, and portions of Pangasinan, which include Basista, San Carlos, Calasio, Malasiqui, Mangatarem, Mangaldan, and Umingan.
Shell will not impose the price adjustment in La Union, Ilocos Sur, and portions of Pangasinan, which include Dagupan, Alaminos, Mangaldan, San Fabian, Calasiao, Malasiqui, Bayambang and Binmaley.
Starting on Tuesday, diesel and kerosene prices are set to go up by P0.60 and P0.40 per liter. Meanwhile, the price of gasoline is set to decline by P0.10 per liter.
According to the Department of Energy (DoE), this week’s price adjustment was driven by the unexpected decline in US crude inventories, indicating strong refinery activity.
“The wild ride in oil prices was largely driven by geopolitical events and uncertainty surrounding US trade policies,” the DoE said.
Last week, gasoline, diesel, and kerosene prices increased by P0.40, P1.10, and P0.70 per liter, respectively.
In July, the Philippines was hit by three tropical cyclones and an enhanced southwest monsoon, resulting in heavy rainfall and floods. — Sheldeen Joy Talavera