Oil Companies to Impose Another Pump Price Hike for 2nd Straight Week

Oil Companies to Impose Another Pump Price Hike for 2nd Straight Week

OIL PRICE HIKE – Several oil companies in the country will impose another pump price hike for the second straight week.

Nowadays, the prices of petroleum products play a very important role in the country’s economy. Pump price adjustment usually causes a significant impact on the prices of products and services in the country.

Pump price hikes usually contribute to the daily burden of Filipino people especially to those who were using public vehicles for a living and individuals using private vehicles to reach their point of destination.

Oil Companies

The oil firms in the Philippines have announced an increase in prices of petroleum products including gasoline, diesel, and kerosene. The impending oil price hike with the second straight week of increases.

Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. announced an additional amount of P3.00 per liter of gasoline, P4.10 per liter for diesel, and P3.50 per liter of kerosene.

Cleanfuel will impose the same price adjustment except for kerosene, which it does not carry.

All gasoline stations will implement the price changes at 6:00 am on Tuesday (April 26, 2022) while Cleanfuel will adjust the prices at 8:01 am. Meanwhile, other oil companies have yet to make similar announcements later this week.

The Department of Energy (DOE) has released the latest data available showing a total net increase of P15.45 per liter of gasoline, P27.35 per liter of diesel, and P21.55 per liter of kerosene as of April 19, 2022.

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

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