Oil Firms to Impose Big-time Pump Price Hike on Tuesday (January 24)

Oil Firms Announces Big-time Pump Price Hike This Week

Several oil firms announced a big-time pump price hike starting this marking the second straight week of increases.

Nowadays, the cost of petroleum products is essential to the economy of the nation. Pump price adjustments typically have a considerable impact on the nation’s prices for goods and services.

The pump price increase would add to the everyday burden of Filipinos, particularly those who rely on public transportation for a living and those who rely on private vehicles for mobility.

Oil Firms

On Monday (January 23, 2023), various gasoline stations in the country announced a major increase in prices of petroleum products such as gasoline, diesel, and kerosene. It will mark the second consecutive week of price hikes.

Pilipinas Shell Petroleum Corp. announced an additional P2.80 per liter of gasoline, P2.25 per liter of diesel and P2.40 per liter of kerosene. Clean fuel will implement similar changes except for kerosene which it does not carry.

All gas companies will impose the price adjustments at 6 am on Tuesday (January 24, 2023) except for Cleanfuel which will adjust prices at 4:01 pm. the same day.

Oil Firms

Other oil companies are expected to make similar announcements later this week.

Last week, gas companies impose an increase of P0.95 per liter gasoline, P0.50 per liter of diesel, and P0.15 per liter of kerosene.

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