Filipino Drivers Load “Full Tank” on Their Vehicle Before Big-Time Oil Price Hike on Tuesday (March 8)
Many Filipino drivers in the country have decided to load “full tank” before the big-time oil price hike this week.
Last week, a source from oil industry reported that the local prices of petroleum products including gasoline, diesel and kerosene are expected to shoot-up due to the Russia-Ukraine war crisis.
According to the source, the fuel prices may increase by P4-5. Gasoline prices may increase by P3.50 to P3.70 per liter. Diesel prices are expected to go up to P5.30 to P5.50 per liter while kerosene may increase by P4.00 to P4.10 per liter.
The expected big-time price increase on Tuesday (March 8, 2022) will mark the 10th consecutive weeks of oil prices in the country. The impending price hike will surely affect the Filipino motorists, which may trigger a domino effect.
Before the expected price increase, a lot of Filipino drivers have decided to load full tank on their vehicle before the big-time oil price hike. Several gasoline stations have also offered promo and discount to the drivers.
A public jeepney driver named Mariano Solito get a full tank for his jeepney before the pump price increase.
According to the Department of Energy, oil companies are imposing market pricing instead of inventory pricing. The oil firms were adopting the current prices of petroleum products in the international market.
“Kung ano talaga ang galaw ng presyo ng petroleum products sa international market silang ia-adop natin o kaya i-reflect natin ditto sa domestic pump price. Kapag pababa rin naman, susunod dun ang Pilipinas na i-adopt,” DOE Oil Industry Management Bureau Asst. Dir. Rodela Romero said.
The online community expressed their reactions to the impending oil price changes:
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Read Also: Industry Source Says Fuel Prices May Increase Up to P4-5 Per Liter Next Week
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