Another oil price hike

October 25, 2021 Edd Reyes 80 views

LOCAL oil firms imposed another hefty increase on pump prices which also accounted for their ninth consecutive price hike since August 30 effective on Tuesday.

Chevron Philippines at 12:01 a.m. raised its prices of premium and unleaded gasoline by P1.15 centavos per liter, diesel by P0.45 per liter and kerosene by P0.55 per liter while two other major oil firms, Petron Corporation and Pilipinas Shell also announced the same price adjustments effective at 6 a.m., Tuesday.

Independent oil firms PTT Philippines, Petro Gazz, Total Philippines, Phoenix Petroleum, Unioil and Eastern Petroleum also implemented the same price adjustments on their gasoline and diesel products, also at 6 a.m. while Clean Fuel imposed the same changes at 4:01 p.m.

According to Jhay Juilian, Communication Officer of Thai-led PTT Philippines, the continued spiking of international oil prices have caused domestic prices to climb.