New round of fuel price hike

January 17, 2022 Edd Reyes 216 views

LOCAL oil companies on Monday announced their 3rd consecutive week of big-time uniformed fuel price hike which took effect Tuesday.

Major oil firms Pilipinas Shell and Petron Corporation, along with independent oil company Seaoil Philippines, announced an increase of their diesel products by P1.80 per liter, gasoline by P0.90 centavos per liter, and kerosene by P2.30 per liter effective at 6 a.m.

Chevron Philippines, also a major oil player, imposed the same price adjustments much earlier at around 12:01 a.m.

Thai-led PTT Philippines, Phoenix Petroleum, Total Philippines, Petro Gazz and Unioil also announced their third round of increase on their diesel and gasoline products effective at 6 a.m. Tuesday while Clean Fuel at 4:01 in the afternoon.

Energy sources said the production cut of oil-producing countries has caused domestic prices of fuel products to climb.