Oil Companies Announces Price Hike This Week
Several oil companies are set to implement an increase with the prices of petroleum products for the third straight week.
Some oil firms announced that they would implement a price hike for the third straight week on prices of some petroleum products. The price adjustments would take effect on Tuesday (November 24, 2020).
Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. would impose P0.50 increase per liter of diesel and P0.30 increase per liter of kerosene while gasoline’s price would remain the same.
Petro Gazz would implement the same price adjustment with the price of diesel and gasoline’s price would unchanged. The company does not carry kerosene products. Meanwhile, other oil companies have yet to make similar announcements within this week.
The recent price adjustments came after oil firms have implemented a big-time price increase of more than P1.00 per-liter increase for petroleum products such as gasoline, diesel, and kerosene.
The Department of Energy released the latest data showing a net decrease per liter of gasoline worth P4.62 and P9.36 per liter for diesel. While kerosene had P12.59 per liter net decrease.
What can you say about the recent oil price adjustments? Just feel free to leave your comments and reactions to this article.
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