Another Oil Price Hike After 2 Straight Weeks of Rollbacks

Several gasoline stations were set to implement another oil price hike after two straight weeks of price rollbacks.

Over the past few decades, 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.

Some oil companies in the Philippines announced another increase on prices of petroleum products including gasoline, diesel and kerosene. The announcement came after two consecutive weeks of price reduction.

Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. released an advisory announcing an additional of P0.45 per liter of gasoline, P1.70 per liter of diesel and P0.45 per liter of kerosene.

Cleanfuel will implement the same price adjustment except for kerosene, which they do not carry. All gas companies will implement the price changes at 6:00 am on Tuesday (April 19, 2022) except for Cleanfuel which will implement the adjustment at 4:01 pm.

Other companies have yet to make similar announcements later this week.

The Department of Energy (DOE) released the latest data available showing the year-to-date adjustments. The data shows a total net increase of P15.00 per liter of gasoline, P25.65 per liter of diesel, and P21.10 per liter of kerosene.

What can you say about the expected fuel price increase? Just feel free to leave your comments and reactions to this article.

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