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Motorists told to brace for another oil price hike

October 18, 2021 People's Tonight 314 views

MOTORISTS should brace for another hike in fuel prices as major and independent oil firms implemented another big-time price increase, the 8th straight increase in as many weeks, effective Tuesday.

Major oil firm Chevron Philippines announced an increase of P1.80 per liter of gasoline, P1.50 for diesel and P1.30 for kerosene effective at 12:01 a.m. Tuesday while Pilipinas Shell, Petron Corporation and small oil company Seaoil Philippines imposed the same price adjustments at 6 a.m.

Thai-led PTT Philippines, Petro Gazz, Total Philippines, Phoenix Petroleum, Unioil and Eastern Petroleum also announced that they will implement the same changes, excluding kerosene which they do not carry, at 6 a.m. Tuesday while Clean Fuel at 4:01 p.m.

PTT Communication Officer Jhay Julian said they adjust prices of petroleum products weekly to reflect movements in the world oil market.