Oil Firms to Impose Another Pump Price Hike For Fifth Week Straight
The oil companies in the country are set to implement another pump price hike for the fifth straight week.
Nowadays, the prices of petroleum products play a very important role to the country’s economy. Pump price adjustment has a significant impact on prices of products and services in the country.
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.
Several gas stations in the Philippines announced another increase on prices of petroleum products including gasoline, diesel and kerosene. The price hike will take effect on Tuesday (September 28, 2021).
Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. would impose an additional amount of P0.55 per liter of gasoline, P0.90 per liter of diesel and P0.95 per liter of kerosene.
Cleanfuel and Petro Gazz will implement similar adjustments except for kerosene, which they do not have.
Other oil firms have yet to make similar announcements later this week. Oil companies would implement the price adjustments at 6:00 am on Tuesday (September 28, 2021) except for Cleanfuel, which will impose the price changes at 4:01 pm.
The Department of Energy (DOE) has released the latest data available showing the year-to-date adjustments. The data shows a total of P14.55 per liter of gasoline, P12.05 per liter of diesel, and P9.70 per liter of kerosene as of September 21.
What can you say about the impending oil price hike? Just feel free to leave your comments and reactions to this article.
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