Oil firms to raise prices anew

February 28, 2022 Edd Reyes 285 views

BIG and small oil firms announced on Monday another round of price increases that will take effect Tuesday.

For the 9th consecutive week, major oil firm Chevron Philippines announced an increase of gasoline prices by P0.90 centavos per liter, diesel by P0.80 centavos per liter, and kerosene by P0.75 centavos per liter effective at 12:01 a.m. Tuesday.

Petron Corporation and Pilipinas Shell, along with independent oil companies Seaoil Philippines and Flying V also implemented the same price adjustments at 6:00 a.m.

Thai-led PTT Philippines, Total Philippine, Phoenix Petroleum, Unioil Philippines, Petro Gazz, and Jetti Oil imposed the same price adjustments on their diesel and gasoline products at 6:00 a.m. while Clean Fuel carried out the same price hike at 4:01 p.m.

The conflict between Russia and Ukraine and the tighter supplies of petroleum products from oil-producing countries due to the rising demand in many parts of the world caused domestic prices of fuel products to climb.