Oil firms hike prices for gasoline, diesel, kerosene week of January 3

Updated Jan 03, 2023 | Same topic: Latest Consumer Reports

This is the first fuel price adjustment for 2023.

The first fuel price adjustment for 2023 is a hefty one for consumers who are still winding down the holiday season.

Gas station attendant

Higher fuel prices are set to dampen spirits as the holidays wind down

In separate announcements, oil firms reported that they will be increasing pump prices for gasoline by Php 2.90 per liter, diesel by Php 2.10 per liter, and kerosene by Php 3.05 per liter.

Caltex implemented the new prices for its Silver 91, Platinum 95, Techron Diesel, and kerosene effective 12:01 a.m. of Tuesday, January 3, 2022. The rest of the Big Three oil companies followed by 6:00 a.m., with Petron increasing prices for Xtra 91, XCS 95, Blaze 100, Diesel Max, Turbo Diesel, and kerosene.

Meanwhile, Shell also posted increases in the prices of its FuelSave 91, V-Power Nitro Plus 95, V-Power Nitro Plus Racing 97, FuelSave Diesel, V-Power Nitro Plus Diesel, and kerosene.

Caltex fuel price adjustment

Caltex was the first to implement adjusted fuel prices for this week [Image: Caltex Philippines FB page]

Metro Oil customers will likewise pay more for the company’s products such as Astro 91, Astro 95, Astro 97, Astro Clean, Astro Power Diesel, and kerosene. Petro Gazz has implemented a price hike for its Prime 91, Premium 95, Peak 97, and Dzlpower blends.

The last oil player to adjust prices is Cleanfuel, implementing the new rates for its Clean 91, Premium 95, and diesel fuels later in the day at 4:01 p.m.

In contrast, prices for liquefied petroleum gas (LPG) have been slashed as of January 1, with reductions ranging from Php 3.09 to Php 4.20 per kilogram. This translates to price cuts of between Php 33.09 and Php 46.20 per LPG cylinder, depending on the brand.

Stove flame

Prices of LPG for both cooking and automotive applications get a rollback for the month

Petron advised that it is reducing prices for Auto LPG by Php 2.35 per liter, while Cleanfuel rolled back prices by Php 2.50 per liter.

The price downtrend for LPG has been attributed to the softening of international contract costs as reflected by LPG prices on Saudi Aramco, that serves as the benchmark for Asian markets. Prices for LPG are expected to stay throughout January.

Fill up on more fuel price news at Philkotse.com.

Joseph Paolo Estabillo

Author

Joseph holds a degree in Journalism from the University of the Philippines Diliman and has been writing professionally since 1999. He has written episodes for CNN Philippines' motoring show Drive, and has worked on corporate projects for MG Philippines and Pilipinas Shell. Aside from being Philkotse.com’s Content Lead, he also writes content for numerous car dealerships in the U.S., spanning multiple brands such as Alfa Romeo, Chrysler, Dodge, Jeep, and Maserati, among others.

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