Petroleum Products Price Hike To Set On May 26 (Tuesday)

Petroleum Products Price Hike To Set On May 26 (Tuesday)

PETROLEUM PRODUCTS – Pump prices on petroleum products are expected to increase on Tuesday (May 26) this week.

PETROLEUM PRODUCTS
Image from: PhilStar

This was despite adjustments that still do not include additional work that was approved by President Rodrigo Duterte earlier on May.

Chevron Philippines Inc. (Caltex) and Pilipinas Shell Petroleum Corp. said in separate advisories that they will increase their prices in the following products:

  • Gasoline – ₱1.75
  • Diesel – ₱2.10
  • Kerosene – ₱2.65

Furthermore, Petro Gazz also announced that they will implement the same changes, except for kerosene, which it does not carry.

This is the fourth consecutive week of hikes for gasoline, and the third for diesel and gasoline.

As per the report, the changes will be effective on 6 AM on Tuesday, except for Caltex, which will implement the change on 12:01 AM at the same day.

As for other firms, they still have yet to make the similar announcements.

They earlier clarified that the changes still do note include the 10% additional duty on oil and petroleum products that was approved by President Rodrigo Duterte, which was under Executive Order 113 signed on May 2.

The adjustments were all based on the movement in the Mean of Platts Singapore (MOPS).

What do you think? How will you react to this? Let us know more about it in the comments below.

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