Oil Price Upward Move Results To Fuel Price Increase on February 26, 2019
FUEL PRICE – The prices of fuel are set to increase beginning tomorrow, February 26, 2019, after the price of oil went up.
Undeniably, part of the daily expenses of many people goes to fuel. Many Filipinos now own a motorcycle or a car of their own for convenient travel to their destinations.
The increasing number of people owning vehicles also means that every increase in the amount of fuel per liter, more and more people are affected. Most people who are greatly affected are the jeepney drivers.
Recently, a news report announcing a fuel price increase crossed the surface. According to a report in Rappler, the said increase which would be implemented starting tomorrow, February 26, 2019, is due to oil price going up.
Based on the report, two of the gas stations in the Philippines, Caltex and Petro Gazz, have already made an announcement regarding the matter. An increase of Php 1.45 per liter for diesel and gasoline will be expected starting tomorrow.
The new rates of Caltex will be implemented starting 12:01 in the morning while Petro Gazz will apply the new rates beginning 6:00 in the morning.
Based on the report, aside from fuel stations, kerosene-producing companies will also implement an increase following the upward movement of oil price.
Reportedly, companies will be hiking their prices by Php 1.35 per liter. In line with the oil price increase, the Department of Energy calls to the public for conscious usage of energy.
Other fuel stations have yet to released statements regarding the oil price increase but they are expected to do the same like Petro Gazz and Caltex.
We’ll keep you posted for further updates.
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