Oil Companies to Implement Another Pump Price Hike For Six Consecutive Weeks
OIL PRICE HIKE – Several oil companies have announced another pump price hike for six consecutive weeks.
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.
Numerous gasoline firms in the Philippines have announced another surge on prices of petroleum products. The expected pump price hike would mark the sixth straight month of increases.
Gasoline stations announced another increase on prices of petroleum products including gasoline, diesel and kerosene. Oil firms will set an addition P1.05 per liter of gasoline, P1.20 per liter of diesel and P1.25 per liter of gasoline.
Most oil companies will impose the price adjustment at 6:00 am on Tuesday (February 8, 2022) except for Cleanfuel, which implement the price changes at 4:01 pm on the same day.
Other companies are expected to make similar announcement 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 P4.95 per liter of gasoline, P7.20 per liter of diesel, and P6.75 per liter of kerosene.
This is a developing story, just visit this website regularly or refresh the page for further updates.
What can you say about the expected oil price hike? Just feel free to leave your comments and reactions to this article.
Thank you for visiting Philippine Trending News (Philnews.ph). You may also follow us on the following social media platforms; Facebook, Twitter, and YouTube
Read Also: Oil Firms to Impose Pump Price Hike for 5th Straight Week