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Oil Companies Implements Big-Time Pump Price Hike This Week

OIL PRICE HIKE – Several oil firms in the country HAVE implemented another big-time 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.

Big-Time Pump Price Hike

Various oil companies in the Philippines have implemented another big-time increase in prices of petroleum products including gasoline, diesel and kerosene. It marks the third straight week of increases.

Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Inc. imposed an additional amount of P0.90 per liter of gasoline, P0.80 per liter of diesel and P2.30 per liter of kerosene.

Cleanfuel, Petro Gazz, PTT Philippines Corp., and Unioil Petroleum Philippines Inc. impose similar price adjustments except for kerosene which they do not carry.

Big-Time Pump Price Hike

The price changes take effect on Tuesday (January 18, 2022). All gasoline stations imposed the adjustments at 6:00 except for Caltex that implements the changes as early as 12:01 am and Cleanfuel which will adjust the prices at 4:01 pm.

The Department of Energy released the latest date showing the current total net increase. The data shows a total of P2.60 per liter of gasoline, P3.50 per liter of diesel, and P2.74 per liter of kerosene as of January 11, 2022.

Other oil firms are expected to make further announcements regarding the price adjustment later this week.

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

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

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Read Also: Another Big-Time Pump Price Hike Expected Next Week

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