Oil prices set to increase for fifth consecutive week
Manila, Philippines — Motorists should brace themselves for another round of fuel price hikes this week as several oil companies have announced adjustments in the prices of their products.
CleanFuel, Caltex, SeaOil, PetroGazz, and Shell all stated that they would be implementing price increases on Tuesday. Diesel prices will be going up by P1.50 per liter, while gasoline prices will rise by P0.75 per liter. Kerosene prices will also see an increase of P0.80 per liter.
This marks the fifth consecutive week of oil price hikes since the second week of January. Last week, oil companies also raised pump prices, with diesel prices increasing by P1.30 per liter and gasoline prices going up by P2.80 per liter. Kerosene prices also climbed by P2.80 per liter.
SeaOil, PetroGazz, and Shell will adjust their prices at 6 a.m. on Tuesday, while CleanFuel will do so at 4:01 p.m. on the same day. Caltex, on the other hand, will implement their price adjustments at 12:01 a.m.
Despite these announcements, some oil firms have yet to disclose their price adjustments, leaving consumers uncertain about the full extent of the upcoming hikes.
