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Major oil price hike set on Tuesday
Major oil price hike set on Tuesday
Nation
Major oil price hike set on Tuesday
by Christhel Cuazon31 July 2023
DZRH File Photo

A major pump price hike ranging from PHP 2 to PHP 3 will welcome motorists on Tuesday– the first day of August.

In separate advisories, Cleanfuel, Caltex, Shell, and Seaoil announced that they will hike prices per liter of gasoline by PHP 2.10, diesel by PHP 3.50, and kerosene by PHP 3.25

The changes will take effect at 6 AM on Tuesday, August 1, for all the firms except for Caltex which will adjust prices at 12:01 AM the same day.

This marks the third straight week of increases for gasoline, and the fourth for both diesel and kerosene.

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According to the Department of Energy, the price adjustments resulted in a year-to-date net decrease of PHP 0.40 per liter for diesel and PHP 3.35 per liter for kerosene, while gasoline had a net increase of PHP 8.90 per liter.

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