Mixed Fuel Price Adjustments Expected onTuesday (March 14, 2023), Oil Firms Say
PUMP PRICE CHANGES – Oil firms are set to impose mixed fuel price adjustments on Tuesday (March 14, 2023).
Gasoline stations are set to implement another increase of prices of gasoline for the second straight week and a rollback for diesel and kerosene prices.
Prominent oil companies such as Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. have announced plans to increase the price of gasoline per liter by P1.00 while reducing the cost of diesel and kerosene by P0.10 and P0.60, respectively.
This move is expected to come into effect from 6 a.m. on Tuesday, March 14, 2023, which has left many consumers feeling anxious about the impact it could have on their finances.
The Department of Energy’s latest data reveals that gasoline has recorded a net income of P5.70 per liter, while diesel and kerosene have witnessed a net decrease of P0.90 and P1.05 per liter, respectively, as of March 7, 2023.
In light of this development, customers who rely on gasoline as their primary source of fuel for transportation are likely to experience a significant increase in their expenses, while those who use diesel and kerosene will benefit from a slight reduction in cost.
As the oil industry continues to face challenges such as geopolitical tensions, supply disruptions, and shifts in demand patterns, consumers should remain vigilant and informed about the latest developments in the petroleum market.
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