Oil Companies Set To Implement Fuel Price Hike on Tuesday (September 17)

Oil Firms To Impose Fuel Price Hike Tomorrow (September 17)

Several oil companies are set to implement fuel price hike following the recent attacks on Saudi oil sites after three consecutive weeks of rollbacks.

On Monday (September 16, 2019), oil firms announced that they will set an increase on pump prices per liter of petroleum products. The price adjustments will take effect at 6:00 am on Tuesday morning (September 17, 2019).

Oil companies including Pilipinas Shell Petroleum Corp., SEAOIL Philippines Inc., Cleanfuel, and Petro Gazz are set to implement the changes on oil prices. The following companies would implement the following changes:

Fuel Price Hike
  • Diesel – P0.85 per liter increase
  • Gasoline – P1.35 per liter increase
  • Kerosene – P1.00 per liter increase

However, Cleanfuel would also implement the following changes except for kerosene while other firms have yet to make an announcement regarding price adjustments.

The Department of Energy (DOE) also released a data showing the year-to-date adjustments of petroleum products that stand at P3.17 for diesel, P4.16 per liter for gasoline, and P1.01 per liter for kerosene.

Fuel Price Hike

Last weekend, multiple drone attacks on Saudi Arabia Abqaiq petroleum processing facility have been reported. The recent attacks also threatened to cause regional oil crisis.

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