Arthur Fuentes

Motorists gas up at a Petro Gazz station in Cainta, Rizal on March 10, 2022, as the firm rolled back their fuel prices amid rising fuel costs due to the Ukraine-Russia conflict. Fuel prices are expected to further increase the following week. Mark Demayo, ABS-CBN News

Article (news)

OIL PRICE HIKE

Benise Balaoing

ABS-CBN News

<p>MANILA (UPDATE 2) — Oil companies have agreed to stagger what would have been a one-time big-time hike in fuel prices on Tuesday, the Department of Energy said on Monday.</p><p>The DOE said Energy Officer-in-Charge Sharon Garin and Undersecretary Alessandro Sales, met with oil industry representatives  on Monday to discuss the issue, with the oil firms responding &quot;positively&quot; to the government&#x27;s request.</p><p>Pump prices are going up by the following amounts in the last week of June:</p><div style="line-height:1"><strong>SHELL, SEAOIL, PETRON</strong></div><div style="line-height:1"><strong>June 24, 6 a.m:</strong></div><p style="line-height:1">Diesel: P2.60/L increase</p><p style="line-height:1">Gasoline:  P1.75/L increase</p><p style="line-height:1">Kerosene: P2.40/L increase</p><div style="line-height:1"><strong>June 26, 6 a.m:</strong></div><p style="line-height:1">Diesel: P2.60/L increase</p><p style="line-height:1">Gasoline:  P1.75/L increase</p><p style="line-height:1">Kerosene: P2.40/L increase</p><div style="line-height:1"><strong>CALTEX</strong></div><div style="line-height:1"><strong>June 24, 6:01 a.m:</strong></div><p style="line-height:1">Diesel: P3.45/L increase</p><p style="line-height:1">Gasoline:  P2.25/L increase</p><p style="line-height:1">Kerosene: P3.20/L increase</p><div style="line-height:1"><strong>June 27, 6:01 a.m:</strong></div><p style="line-height:1">Diesel: P1.50/L increase</p><p style="line-height:1">Gasoline:  P1 /L increase</p><p style="line-height:1">Kerosene: P1.40/L increase</p><div style="line-height:1"><br/></div><p>Diesel prices were expected to go up by around P5 per liter on Tuesday, while gasoline was seen rising by as much as P3.50 per liter amid global supply concerns due to the escalating conflict between Israel, Iran and the United States.</p><p>&quot;Oil companies will submit their implementation scheme, including the breakdown of the staggered adjustments, to the DOE no later than 6 p.m. today,&quot; the DOE said.</p><p>Garin said they cannot tell each company how to stagger the price hikes.</p><p>&quot;Kailangan nila i-check yung financials din nila. This is really a request out of the kindness of their hearts, hindi ito pwede ma-impose kasi it&#x27;s a deregulated industry,&quot; she explained.</p><p>The official said they are happy that the companies agreed to staggered price hikes.</p><p>&quot;They know that bayanihan &#x27;to, sama-sama tayo,&quot; Garin said.</p><p>A subsidy program for operators and drivers of public utility vehicles is also being readied amid worries that the escalating conflict in the Middle East will cause global oil prices to further spike.</p>

<p>Oil companies have agreed to stagger what would have been a one-time big-time hike in fuel prices on Tuesday, the Department of Energy said.</p>

Oil companies have agreed to stagger what would have been a one-time big-time hike in fuel prices on Tuesday, the Department of Energy said.

Oil firms agree to staggered fuel price hikes: Energy dept

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Oil firms agree to staggered fuel price hikes: Energy dept

Arthur Fuentes,

Benise Balaoing,

ABS-CBN News

Published Jun 23, 2025 01:51 PM PHT

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Updated Jun 23, 2025 05:46 PM PHT

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