Oil Companies to Impose Another Round of Major Fuel Price Hikes

Another Round of Major Fuel Price Hikes Expected on Tuesday (January 2, 2023), Oil Companies Say

FUEL PRICE ADJUSTMENTS – Oil companies announced another round of major fuel price hikes for the third consecutive weeks.

Nowadays, the cost of petroleum products is crucial to the economy of the nation. Pump price adjustment typically has a considerable effect on the nation’s cost of products and services.

The pump price hike would contribute to the daily burden of Filipino people especially those who were using public vehicles for a living and to individuals using private vehicles to reach their point of destination.

Oil Companies

Several gasoline stations announced another increase in prices of petroleum products including gasoline, diesel, and kerosene. It will mark the third straight week of increases for gasoline and kerosene.

Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. will implement an increase of P2.90 per liter of gasoline, P2.10 per liter of diesel, and P3.05 per liter of kerosene.

Cleanfuel will impose similar changes except for kerosene which it does not carry.

All oil firms will implement the price changes at 6 am except for Cleanfuel which will adjust prices at 4:01 pm on Tuesday (January 2, 2023).

Oil Companies

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

The Department of Energy has released the latest data available showing the total adjustments, which stands at a net increase of P13.95 per liter of gasoline, P27.50 per liter of diesel, and P20.80 per liter of kerosene as of December 20, 2022.

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