New hefty fuel price hike

March 28, 2022 Edd Reyes 257 views

BIG and small oil companies imposed another hefty hike on petroleum products which would take effect Tuesday following a week-long price rollback.

In separate text advisories, major oil firm Chevron Philippines bared that it would increase its prices of diesel products by P8.65 per liter, gasoline by P3.40 per liter and kerosene by P9:40 per liter effective at 12:01 a.m. Tuesday.

Petron Corporation and Pilipinas Shell, along with independent oil firms Seaoil Philippines and Flying V said they would be moving pump prices by the same levels, effective at 6 a.m. Tuesday.

PTT Philippines, Petro Gazz, Total Philippines, Phoenix Petroleum, Eastern Petroleum, Unioil Philippines and Jetti Oil would implement the same set of hikes on their gasoline and diesel products at 6 a.m. while Clean Fuel at 8:01 a.m.

Other oil firms have yet to announce an adjustment as of press time, although they would likely to follow suit.

PTT Communication Officer Jhay Julian said several factors have been considered why fuel prices goes up again including the threat of Russian President Vladimir Putin to European gas imports, the damaged caused by storm into the pipeline being used by Russia to export their oil from Black Sea and a series of attacks in an oil depot in Jeddah, Saudi Arabia, by Yemen’s Houthis rebels.