Oil firms will adjust fuel prices starting 12:01 a.m. on March 5.
In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, Shell, and Petron said they will increase gasoline prices by P0.50 per liter but will be slashing diesel prices by P0.40 per liter.
Caltex, Seaoil, Shell, and Petron will also implement a P0.35 per liter rollback on kerosene prices.
Other oil companies are expected to follow suit.
Last week, local industry players implemented rollbacks of P0.70 per liter for gasoline, P0.95 per liter for diesel, and P1.10 per liter for kerosene.
With the recent price adjustments, gasoline prices in Metro Manila range from P56.30 to P8.125 per liter, from P54 to P83.61 per liter for diesel, and from P72.44 to P83.83 per liter for gasoline.
“Year-to-date adjustment of gasoline, diesel, and kerosene stands at a net increase of P5.45 per liter, P4.45 per liter, and P0.40 per liter, respectively,” the Department of Energy said.*PNA
