Big-Time Oil Price Hikes Set on April 9, 2024 (Araw ng Kagitingan)

Gas Stations to Implement Big-Time Oil Price Hikes Set on Tuesday (April 9, 2024)

Various fuel companies in the country are set to implement big-time oil prices hikes on April 9, 2024 (Araw ng Kagitingan).

Rising oil prices in the Philippines can have a major effect on a number of social and economic aspects. The increase in transportation expenses is one of the most obvious results.

The cost of public transportation usually rises in tandem with rising gasoline costs, affecting commuters who depend on buses, jeepneys, tricycles, and other modes of transit. Moreover, higher gasoline prices can result in higher rates for ride-hailing services and taxis.

Starting Tuesday (April 9), Filipino motorists in the Philippines will face increased fuel prices as several companies have announced adjustments to their rates.

According to Cleanfuel and Seaoil, the price of gasoline will climb by P1.10 per liter, while diesel prices will go up by P1.55 per liter. Kerosene prices will also increase by P1.40 per liter, as stated by Seaoil.

The price adjustments by Cleanfuel will come into effect at 4:01 p.m. on Tuesday, while Seaoil’s changes will be implemented at 6 a.m. The fuel price hike coincides with Araw ng Kagitingan (Day of Valor).

Other oil companies, such as Shell Pilipinas, have also announced price hikes effective Tuesday, with gasoline increasing by P1.10 per liter, kerosene by P1.40 per liter, and diesel by P1.55 per liter.

The looming price changes mark the third consecutive week of increasing oil prices in the country.

Department of Energy’s Oil Management Bureau Assistant Director Rodela Romero pointed the price hikes to potential escalation of the Israel-Hamas conflict, with Iran possibly becoming involved, as well as the recent Ukraine attack on Russia’s oil refineries.

The social media users expressed their reactions to the big-time oil price hikes: