MANILA, Philippines – Local diesel prices will skyrocket by up to P24.25 per liter this week, with some companies agreeing to stagger the price hikes as motorists feel the impact of the raging Middle East war.
Department of Energy (DOE) Sharon Garin announced the price adjustments in a media briefing on Monday.
She said Shell Pilipinas would impose the biggest jump in diesel prices, reaching P24.25 a liter. But on Tuesday, it would impose an initial P14.55 a liter increase. On Wednesday and Thursday, an additional P7.30 and P2.40 a liter, respectively, will be added to the price.
Petron’s diesel price will climb by P19.20. Motorists, however, can opt to gas up on Tuesday as the company will initially implement a hike of P11.60 per liter. An additional P3.80 will be added on the following days to complete the total increase.
Tranches
Diesel products at Total gas networks will also go up by P20.20 this week, with the adjustments implemented in two tranches of P10.10 over two days.