Another oil price hike

July 19, 2021 Edd Reyes 133 views

MAJOR and independent oil firms have announced another round of increase in pump prices marking the companies’ ninth collective weekly price increase effective Tuesday.

Independent oil firms PTT Philippines Total Philippines, Phoenix Petroleum and Unioil Philippines announced an increase of their gasoline products by P0.10 per liter and diesel by P0.30 per liter effective at 6 a.m. Tuesday.

Pilipinas Shell and Petron Corporation in separate advisories also announced that their gasoline products will go up by P0.10 per liter while diesel and kerosene by P0.30 per liter also at 6 a.m. Tuesday.

Chevron Philippines also announced similar increase of its gasoline, diesel and kerosene products much earlier at 12:01 a.m. while small player Clean Fuel imposed the same price adjustment on its diesel and gasoline products at 4:01 in the afternoon, Tuesday.

PTT Philippines Communication Officer Jhay Julian said the price adjustment mainly reflect movements in the international oil market.