Oil Companies Set to Implement Price Adjustments
Several oil companies in the Philippines are set to implement price hike with petroleum products for the first week of March.
Starting Tuesday (March 2, 2021), oil firms in the country would impose price adjustments with the prices of gasoline, diesel and kerosene. It would be the fifth consecutive week of price hike for gasoline and the fourth week for kerosene and diesel.
Pilipinas Shell Petroleum Corporation announced that they will implement an increase of P1.00 per liter of gasoline, P0.85 per liter of diesel and P0.70 per liter of kerosene.
Cleanfuel would impose the same price adjustments except for kerosene. Cleanfuel has no kerosene products and would implement the changes around 4:01 pm on Tuesday. Other oil firms would implement the changes at 6:00 am on the same day.
The Department of Energy has released a data showing the total net increase of petroleum products. The available data of year-to-date adjustments shows that gasoline has increase a total of P5.20 per liter, P4.85 per liter for diesel, and P4.35 per liter for kerosene.
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