Oil Companies to Impose Another Oil Price Hike on June 22 (Tuesday)
Oil Price Hike – Several oil companies in the country would implement another price adjustment starting this week.
The oil companies in the Philippines announced that they would implement another increase on prices of petroleum products starting Tuesday (June 22, 2021). It would be the fourth pump price hike.
Shell at Seaoil would implement an additional P0.75 per liter of gasoline, P0.70 per liter of diesel and kerosene. Total Philippines Corporation (TPC) would also impose similar changes except for kerosene, which it does not carry.
Caltex would implement oil price hike of P0.75 per liter of Platinum, P0.75 per liter of silver, P0.70 per liter of diesel, and P0.70 per liter of kerosene.
Other oil companies are also expected to make similar announcement later this week.
The experts explained that the value of peso dropped while dollar’s price increases. The demand of petroleum products in various countries all around the world continue to increase, the field experts added.
Over the past three weeks, the total price hikes have reached P1.50 per liter of gasoline, P1.35 per liter of diesel and P1.15 per liter of kerosene.
What can you say about the impending price adjustment? Just feel free to leave your comments and reactions to this article.
