1st big-time oil price hike for 2023
MOTORISTS will be greeted with another big-time oil price hike after local oil firms announced a uniform price adjustment on petroleum products to be implemented on Tuesday, January 3, 2023.
Major oil firm Chevron Philippines announced an increase in prices of their platinum and silver gasoline by P2.90 per liter, diesel by P2.10 per liter, and kerosene by P3.05 per liter, which took effect at 12:01 a.m. on Tuesday while two other oil giants, Petron Corporation and Pilipinas Shell imposed the same price adjustments effective at 6:00 a.m.
Independent oil firms PTT Philippines, Total Philippines, Petro Gazz, Phoenix Petroleum Philippines, Unioil Philippines, and Jetti Oil, which do not sell kerosene, also implemented big-time price hikes on their gasoline products by P2.90 per liter and diesel by P2.10 per liter effective at 6:00 a.m. while Clean Fuel imposed the same price hike at 4:01 p.m. on Tuesday.
Energy sources said the increased demand for oil in China, the winter season in other countries, and the conflict between Ukraine and Russia caused fuel prices to climb.
