Oil Firms to Implement Another Round of Pump Price Hike on Tuesday (January 31, 2023)
OIL PRICE ADJUSTMENT – Oil firms in the country informed the Filipino motorists to brace for another round of pump price hike.
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.
Some gasoline stations have announced another round of hikes on prices of gasoline, diesel and kerosene starting on Tuesday (January 31, 2023). It will mark the third straight week of increases.
Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. announced an increase of P1.30 per liter of gasoline, P1.00 per liter of diesel and P1.35 per liter of kerosene. Cleanfuel will impose similar changes except for kerosene which it does not carry.
The oil companies will impose the price adjustment at 6:00 am except for Cleanfuel which will adjust prices at 4:01 pm. the same day. Other firms are expected to make similar announcements later this week.
The Department of Energy (DOE) has released the latest data available indicating the year-to-date net increases, which stand at P5.90 per liter for gasoline, P2.05 per liter for diesel, and P3.20 per liter for kerosene.
What can you say about the expected pump price increase? Just feel free to leave your comments and reactions to this article.
Thank you for visiting Philippine Trending News (Philnews.ph). You may also follow us on the following social media platforms; Facebook, Twitter, and YouTube