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2nd wave of oil price hike hits motorists

January 10, 2022 Edd Reyes 345 views

LOCAL oil firms announced their second wave of pump price increase for this year effective today.

At 12:01 a.m., major oil firms Chevron Philippines imposed an increase of P1.10 for their diesel products, P0.75 for gasoline and P0.90 for kerosene while Petron Corporation, Pilipinas Shell and independent oil company Seaoil Philippines implemented the same price adjustments at 6 a.m.

Thai-led PTT Philippines, Petro Gazz, Total Philippines, Phoenix Petroleum and Unioil Philippines implemented the same set of hikes on their diesel and gasoline products at 6 a.m. while Clean Fuel at 4:01 p.m., also on Tuesday.

Energy sources said the second week of price adjustment mainly reflected movements in the international oil market.