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Gas Stations to Implement Big-Time Oil Price Hike This Week

PUMP PRICE HIKE – Several gas stations in the country are set to impose another oil price hike for seven consecutive weeks.

During this modern generation, 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.

Oil Price Hike

Recently, various oil companies in the country announced another big-time increase on prices of petroleum products including gasoline, diesel and kerosene. This will mark the seventh week of consecutive increase.

Pilipinas Shell Petroleum Corp. announced an additional P1.20 per liter of gasoline, P1.05 per liter of diesel and P0.65 per liter of kerosene. Cleanfuel will impose similar prices changes except for kerosene which it does not carry.

Most oil firms will implement the price adjustment at 6:00 am on Tuesday (February 15, 2022) except for Cleanfuel, which will implement the adjustments at 4:01 pm.

Oil Price Hike

Other gas companies are expected to make similar announcement later this week.

Meanwhile, the Department of Energy released the latest data available showing the year-to-date adjustments. The data shows a total increase of P5.70 per liter ofgasoline, P7.95 per liter of diesel, and P7.20 per liter of kerosene as of February 1, 2022.

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

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Read Also: Oil Firms Set to Impose Another Pump Price Hike on February 8 (Tuesday)

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