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Oil Firms Set To Impose Another Price Adjustment Next Week

OIL PRICE ADJUSTMENT – Several oil firms are set to impose another price adjustment on prices of petroleum products starting next week.

Nowadays, the prices of petroleum products play a very important role to the country’s economy. Pump price adjustment usually causes significant impact on prices of products and services in the country.

Pump price hike would contribute to the daily burden of Filipino people especially to those who were using public vehicles for a living and to individuals using private vehicles to reach their point of destination.

Oil Firms

Various gasoline station in the Philippines announced another adjustment on prices of petroleum products. Another price hike awaits for prices of gasoline and diesel while kerosene prices will have a rollback.

The impending oil price hike will mark the tenth week of consecutive weeks of increase. The oil prices continue to increase over the past few months.

Oil firms are set to impose an addition amount of P1.05-P1.15 per liter of gasoline, P0.40-P0.50 per liter of diesel. The price of kerosene will be reduced by P0.30-P0.40 per liter. The experts said that a lot of industries are already using gasoline as fuel.

Read Also: SEAOIL Launches New Products to Lock Oil Prices Amid Gas Price Hike

Gas companies are expected to make an announcement regarding the specific amount that they would impose for fuel price hike.

This is a developing story, just visit this website regularly or refresh the page for further update and information.

What can you say about the expected pump price surge? Just feel free to leave your comments and reactions to this article.

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Read Also: DOE Says Oil Price Hike Could Not Reach P7 Within Next 2 Months

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