Oil Companies To Implement Nearly P1 Pump Price Hike
Several oil companies in the Philippines are set to implement almost P1 increase on prices of petroleum products next week.
The coronavirus pandemic continues to spread in various countries all around the world including the Philippines. The virus rapidly spread and affects the public’s health as well as the global economy.
The COVID-19 pandemic is already affecting the global market including Philippine economy. The health crisis also affects the prices of petroleum products, which is considered as a necessity in the industry.
Numerous oil firms in the country would implement price hike in petroleum products due to its increasing prices in the world market. The adjustment in prices of oil products would take effect on Tuesday (January 19, 2021).
The prices oil products continue to increase over the past few weeks due to the high demand of petroleum amid the coronavirus pandemic.
The prices of gasoline, kerosene, and diesel are expected to have an increase of P0.95-P1.05 per liter.
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You can also read: Oil Companies To Impose Pump Price Hike on 2nd Week of January 2021