Several oil companies in the country were set to impose a price increase on their petroleum products effective on Tuesday (April 16, 2019).
Oil firms including Pilipinas Shell Petroleum Corporation, Seaoil, and PetroGazz send notices informing the adjustment on pump prices stating 6:00 am on holy Tuesday.
Gasoline prices would increase by P1.05 per liter and diesel by P0.75 per liter while kerosene products would have P0.60 hike per liter.
The Department of Energy (DOE) shows on their random monitoring that Petron Corporation retails gasonline products at the price ranging from P50.44 to P62.57 per liter prior to the adjustment of pump prices.
Petro also sells diesel products from P42.37 to P47.29 per liter while kerosene ranges from P44.89 to P51.14 per liter.
Pilipinas Shell Petroleum Corporation sells gasoline at P50.34 to P61.66 per liter, diesel from P41.30 to P48.95 per liter, while kerosene at P51.69 per liter.
The Organization of the Petroleum Exporting Countries (OPEC) spearheaded the supply cuts and its Russian ally exerts upward pressure on pump prices.
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