The first three weeks of 2023 have been a rollercoaster ride for motorists. The price of gasoline and diesel went up at the start of the year, down last week, but sadly goes back up again tomorrow.
Starting tomorrow, January 17, the price of gasoline will climb by PHP 0.95 while diesel gets tagged with a PHP 0.50 increase. The only silver lining here is the minimal rollback of kerosene by fifteen centavos PHP 0.15.
Pilipinas Shell and Seaoil will implement price adjustments at 6:00 AM tomorrow while CleanFuel will give motorists some time to fuel up based on the old price and make their adjustments by 4:01 PM tomorrow.
Other oil companies are expected to follow suit and announce price changes to their products within the day.
The gasoline price hike is PHP 0.20 more than the rollback last week, which means motorists will feel this pinch. Diesel’s increase is only 17% of last week’s price reduction, and may not make as much of an impact.
If your household uses kerosene for cooking meals, it would be a good idea to get a spare tank because we don’t know if its price will go back up next week.
According to reports, the price of fuel goes up this week due to higher freight rates, which are also affected by rising fuel costs, and higher ethanol prices.