Another Oil Price Hike Expected Next Week

Gasoline Companies to Impose Another Oil Price Hike Expected Next Week

Another oil price hike on petroleum products is expected starting next week, according to anonymous sources from oil industry.

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

Over the previous weeks, the prices of petroleum products continue to increase and contribute to the burden of the Filipino people. The increasing fuel prices prompted various transport group to ask for fuel subsidy.

Oil Price Hike

The national government has already approved the fuel subsidy for jeepney drivers. The government would distribute the fuel subsidy directly to the drivers instead of letting the operators handle the budget.

Oil companies implement price roll back for three straight weeks but suddenly impose another price increase last week.

On Saturday (December 18, 2021), several oil companies announced another price adjustment beginning next week. The impending price increase will mark the second week of consecutive pump price hike.

Oil Price Hike

Oil products including gasoline, diesel and kerosene were covered by the impending surge in pump prices. The expected price increase will come a few days before the most-awaited Christmas Day.

Here is the list of additional charges per liter or various oil products:

  • Gasoline – P0.50 – P0.70 per liter
  • Diesel – P0.50 – P0.60 per liter
  • Kerosene – P0.60 – P0.70 per liter

Meanwhile, Phoenix Petroleum Philippes announced a good news for the Filipino people. The company will temporarily postpone the price hike in areas affected by the Typhoon Odette.

What can you say about the impending oil price increase? Just feel free to leave your comments and reactions to this article.

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