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.