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Oil prices bumped up on first of October
Oil prices bumped up on first of October
Nation
Oil prices bumped up on first of October
by Jim Fernandez30 September 2024
Motorists queue at a gas station a day before an oil price hike, in Quezon City, Metro Manila, Philippines, June 6, 2022. REUTERS/ Eloisa Lopez

October kicks off tomorrow, and so will another price increase on petroleum products.

Shell Pilipinas, Seaoil, and Chevron Philippines Inc. or Caltex have announced that from 6 AM on October 1, gasoline will cost ₱0.45 more per liter; diesel, ₱0.90 more per liter; and kerosene will have an added ₱0.30 for every liter.

Petro Gazz and Cleanfuel will also adjust their prices accordingly, save for kerosene, which they do not carry. Additionally, Cleanfuel will implement the change at 4:01 PM of the same day.

The Department of Energy (DOE) attributed this increase to the intensifying conflict between Israel and Lebanon, which has caused supply uncertainty. China has also issued a stimulus package in the hopes of bolstering its economy, while the United States faces a fluctuation in its fuel inventory.

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