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Big-time oil price hike set this week

April 25, 2022 Edd Reyes 254 views

BIG and small oil companies will impose another big-time price hike for the second straight week that will take effect on Tuesday.

Oil giants Pilipinas Shell and Petron Corporation, along with independent oil firms Seaoil and Flying V, bared that effective at 6:00 a.m. Tuesday, they would enforce an increase of diesel products to P4.10 per liter, gasoline by P3.00 per liter, and kerosene by P3.50 per liter.

Chevron Philippines, another major oil firm, announced the same price adjustments but would take effect much earlier at 12:01 a.m.

PTT Philippines, Total Philippines, Phoenix Petroleum, PetroGazz, Unioil Philippines, and Jetti Oil would impose the same price adjustments at 6:00 a.m. Tuesday while Clean Fuel at 8:01 a.m., except for kerosene, which they do not carry.

Energy sources said the war between Russia and Ukraine and the possible ban of Russian oil and gas exports affected the supply of petroleum products worldwide.