‘Unholy’ Tuesday oil price hike
OIL companies today, Holy Tuesday, raise their prices big-time a week after they implemented a meager mixed price adjustment.
Major oil firms Petron Corporation, Pilipinas Shell and Chevron Philippines, along with small oil players Seaoil Philippines and Flying V, in separate advisories said they will implement an increase of their gasoline products by P2.20 per liter, diesel by P1.40 per liter and kerosene by P1.30 per liter effective at 6 a.m.
Several independent oil companies which do not carry kerosene, such as PTT Philippines, Unioil, Petro Gazz, Total Philippines, Phoenix Petroleum and Eastern Petroleum, said they would be moving pump prices of their petroleum products at the same levels also at 6 a.m.
Other small petroleum companies have yet to announce an adjustment although energy sources said a a handful of other oil firms would likely to follow the price adjustments.
PTT Media Relation Officer Jay Julian said some of the main factors that affect demand for oil was the recent attacks of Ukraine on Russian refineries that leads to the latter’s reduction of oil export as well as production cut of other oil producing countries.
