Oil Firms Set To Impose Another Big-Time Oil Price Hike While Diesel Prices Could Go Up to P13/Liter
Oil companies announced another big-time oil price hike and diesel prices could increase up to P13 per liter.
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.
Various oil companies in the Philippines announced another increase on prices of petroleum products including gasoline, diesel and kerosene. The continuous price hike was due to the Russia-Ukraine war.
On Monday (March 14, 2022), Pilipinas Shell has sent an advisory to the Department of Energy announcing that the prices of diesel may jump up to P12 or P13 per liter starting March 15 (Tuesday).
Shell announced an additional P7.10 per liter of gasoline, P13.15 per liter of diesel and P10.50 per liter of kerosene. However, the estimated price adjustment may still change before Tuesday after DOE questioned Shell’s proposed hike.
Other oil companies are expected to make similar announcement later this week.
Meanwhile, the transport group “Samahan ng mga Tsuper at Operators Nationwide (Piston)” is set to make a protest in various parts of Metro Manila on Monday and Tuesday. The group will launch the protests to oppose the series of pump price hike.
Piston president Mody Floranda explained that both operators and drivers were struggling due to the consecutive price increase over the past two to three months. The drivers were earning a little bit low compared to their usually income.
President Rodrigo Duterte has approved a P3 billion subsidy for affected public transportation such as PUV drivers, delivery riders, and agriculture sector.
What can you say about the expected price hike? Just feel free to leave your comments and reactions to this article.
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