Oil Firms to Implement Big-Time Price Hike Starting on Tuesday (January 4, 2022)
Several oil companies in the country were set to impose another big-time price hike starting first week of 2022.
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.
On Monday (January 3, 2022), numerous gasoline stations in the Philippines announced another price increase on prices of petroleum products including gasoline, diesel and kerosene starting January 4, 2022. Oil firms welcomes motorists with hefty pump prices.
The Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. will impose an addition P1.85 per liter of gasoline, P2.40 per liter of diesel and P1.85 per liter of kerosene.
Cleanfuel and PetroGazz will impose similar price adjustments except for kerosene which they do not carry. The prices of petroleum products continue to increase over these past few weeks.
All gas stations will implement the pump price starting 6:00 am on Tuesday while Cleanfuel will impose the price adjustments at 4:01 pm on the same day.
The Department of Energy has released the latest data available from last year’ adjustments. The data shows a total net increase of P17.85 per liter of gasoline, P14.95 per liter of diesel, and P12.39 per liter of kerosene as of December 21, 2021.
Meanwhile, fuel companies have imposed big-time rollback in the prices of its liquefied petroleum gas (LPG) products last January 1, 2022 (Saturday). Petrol cuts the LPG prices by P2.55 per kilogram or P28.05 reduction per 11-kilogram LPG tank.
What can you say about the latest price adjustment? Just feel free to leave your comments and reactions to this article.
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