Oil Firms Set To Impose Another Pump Price Hike This Week
OIL PRICE INCREASE – Several oil firms in the country were set to impose another pump price hike this 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
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.
Some oil companies in the Philippines announced another increase on prices of petroleum products including gasoline, diesel and kerosene. It will make the second consecutive week of increases.
Most gasoline stations will impose the additional amount for the oil prices while the price adjustment in areas under state of calamity will not be implemented.
Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. made an advisory announcing an additional P0.75 per liter of gasoline, P1.10per liter of diesel and P0.90 per liter of kerosene.
Cleanfuel and Petro Gazz will impose similar price adjustments except for kerosene, which they do not carry. The price changes will take effect on Tuesday (January 11, 2022).
All firms will implement the price adjustments at 6:00 am on Tuesday while Cleanfuel will impose the price changes at 4:01 pm. Meanwhile, other oil companies will make similar announcements later this week.
The Department of Energy (DOE) has released the latest data available showing the year-to-date adjustments. The data shows a total net increase of P17.65 per liter of gasoline, P14.30 per liter of diesel, and P11.54 per liter of kerosene last year.
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