MANILA (UPDATE) -- Oil prices are going up at the start of April.

Petroleum companies announced the following price hikes starting April 1, Tuesday. 

SHELL PILIPINAS, SEAOIL, CALTEX (starting 6 a.m.)
Gasoline - P1.40/liter increase
Kerosene - P1.20/liter increase
Diesel - P1.20/liter increase

CLEANFUEL (effective 4:01 p.m.)
Gasoline - P1.40/liter increase
Diesel - P1.20/liter increase

PETROGAZZ (effective 6 a.m.)
Gasoline - P1.40/liter increase
Diesel - P1.20/liter increase

Last week, gasoline prices also increased by P1.10/liter while diesel and kerosene prices rose by P0.40/liter.

Energy Assistant Director Rodela Romero said the main reason for the price spike is concern over global supplies supply due to the sanctions on Iranian and Venezuelan oil.

Members of Bayan Muna, meanwhile, has staged another protest rally in front of a major oil player today criticizing government for its inaction against the series of oil price increases.  Bayan Muna executive vice president Carlos Zarate says the government should already implement the unbundling of fuel prices in order to find out if retail prices are reasonable.

The Supreme Court has already ruled since September 2024 that the Department of Energy has the authority to compel oil firms to unbundle fuel prices.

But Romero said the agency is currently talking with representatives of oil firms to ascertain which data should be submitted to the DOE, without compromising trade secrets of each company. Romero said the DOE and oil firms are on the final stages of completing the template that all oil companies are going to submit.