Oil Firms Set To Implement Oil Price Increase This Week
PUMP PRICE HIKE – Several oil firms are set to implement an increase with the prices of petroleum products this week.
Petroleum products are considered as the blood of the industry for enabling the transportation and shipment of food products, basic commodities, construction materials, medical supplies, and other items.
Movement on prices of oil products will surely affect numerous services and food products not only in the Philippines but also in various countries worldwide.
Starting Tuesday (December 15, 2020), a lot of oil companies in the Philippines would impose an oil price hike due to the movement of petroleum product’s prices in the global market. Price freeze in prices of kerosene remains in areas under the state of calamity.
Firms such as Petro Gazz, Shell, Cleanfuel, and Seaoil would implement an increase of P0.60 per liter of diesel and P0.50 per liter of gasoline. Shell and Seaoil would impose P0.55 increase per liter of kerosene.
The price changes would immediately take effect around 6:00 am on Tuesday but Cleanfuel would implement the price adjustment at 4:01 pm in the afternoon.
Last week, a lot of oil companies have implement price hike on petroleum products.
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You can also read: Oil Companies to Implement Price Adjustments on 4th Week of November