Here’s An Update On The Recent Oil Price Movements
OIL PRICE – Some major oil firms in the country announced an increase in fuel prices that will be implemented by Tuesday (June 25, 2019).
Nowadays, the increasing prices of petroleum products has been one of the major concerns of drivers and motorists. The fuel price hike also affects the prices of basic commodities, which adds up to become an issue to some of us.
It was recently reported that Philippines would be the most affected when oil prices reach as certain rate.
Meanwhile, top oil companies in the country announced the implementation of new oil price increases by Tuesday.
By 6:00 am on June 25, 2019, Shell would implement:
There will be a P0.55 per liter increase in diesel, P0.30 per liter in gasoline and an additional P0.45 per liter of Kerosene.
Meanwhile, Petro Gazz is also set the following increase on the same schedule:
By 6:00 am on June 25, 2019, Petro Gazz would implement:
P0.55 per liter increase in diesel and P0.30 liter in gasoline.
Diesel: +P0.55/L Gasoline: +P0.30/L
This is based on a Twitter post by ABS-CBN News.
There has been numerous announcements of oil price increases lately as it was been expected a week before.
The anticipation was raised as industry souces revealed oil companies are set to implement adjustments basing on the recent developments in the global market.
Separate reports also claimed global oil prices increased recently following reports of oil tankers being attacked in the Gulf of Oman.
Major players in oil production and supplies track oil trade activities in making changes in the oil prices. There were no indications yet whether a rollback or another increase would be implemented soon.
That is all there is to it, at least for now. We’ll post updates as soon as we got them.