Another Pump Price Hike This Week Announced by Philippine Oil Firms
OIL PRICE HIKE – Several oil firms in the country announced another pump price hike for petroleum products this week.
The oil companies in the Philippines are set to implement another increase on prices of oil products on Tuesday (July 13, 2021). It would mark the seventh consecutive weeks of pump price hike.
Shell, Cleanfuel and Petro Gazz announced that they would impose an additional P1.15 per liter of gasoline and P0.60 per liter of diesel. Shell would also charge an additional P0.65 per liter of kerosene.
Most of the gasoline stations would implement the price adjustments at 6:00 am on Tuesday while Cleanfuel would impose the changes around 4:01 pm in the afternoon.
The industry personnel explained that the hike came after the value of peso dropped. The disobedience of Organization of the Petroleum Exporting Countries (OPEC) Plus members regarding the additional amount for the petroleum products became one of the factors.
The additional increase on prices of petroleum products will sure affect and add to the daily burden of Filipino motorists and drivers.
What can you say about the upcoming oil price hike? Just feel free to leave your comments and reactions to this article.