Oil Companies Set to Impose Another Pump Price Hike This Week
Several oil companies are set to implement another pump price hike starting on Tuesday (September 21, 2021).
Nowadays, the prices of petroleum products play a very important role to the country’s economy. Oil price adjustment has a significant impact on prices of various products and services.
The expected oil price hike would contribute to the daily burden of Filipino people especially to those who were driving vehicles for a living and to individuals using private vehicles to reach their point of destination.
Numerous gasoline stations in the Philippines announced another increase on prices of petroleum products including gasoline, diesel and kerosene. It would be the fourth straight week of consecutive hike.
Oil firms including Chevron Philippines Inc. (Caltex) and Pilipinas Shell Petroleum Corp announced that they would impose an additional P0.80 per liter of gasoline and diesel while P0.85 will be added per liter of kerosene.
Petro Gazz would implement similar changes except for kerosene, which it does not carry. Cleanfuel will impose an increase of P0.65 per liter of gasoline and P0.70 per liter of diesel.
The oil companies would impose price adjustments at 6:00 am on Tuesday except for Caltex which will implement the changes at 12:01 am and Cleanfuel at 4:01 pm. Other gas stations have yet to make similar announcements later this week.
The Department of Energy (DOE) released the latest data available showing the year-to-date adjustments. The data indicates a total net increase of P13.35 per liter of gasoline, P10.90 per liter of diesel, and P8.70 per liter of kerosene.
What can you say about the expected oil price hike? Just feel free to leave your comments and reactions to this article.