A major price hike in petroleum products will be implemented by oil firms on Tuesday, March 7.
In separate advisories, Shell and Seaoil announced that there will be an increase in the prices per liter of gasoline by PHP 0.40, diesel by PHP 1.50, and kerosene by PHP 1.25.
The changes will take effect at 6 AM on Tuesday, March 7, for both companies.
Other firms have yet to make similar announcements for the week.
Last Tuesday, February 28, fuel firms implemented a per-liter decrease of PHP 0.70 for gasoline, PHP 1.30 for diesel, and Php 1.80 for kerosene.
The latest movement follows the rollback implemented last week, when firms cut prices per liter of gasoline by P0.70, diesel by P1.30, and kerosene by P1.80.
Latest data available from the Department of Energy (DOE) showed that year-to-date net decreases stood at P2.40 per liter for kerosene and P2.30 per liter, and a net increase of P5.30 per liter was recorded as of February 28, 2023.
The oil price hike comes amid the week-long transportation strike of some groups to oppose the national government's move to phaseout traditional jeepneys and UV express on Monday.
Last week, several transport groups announced their participation in the nationwide strike that will be from March 6-12 regardless of the extension in the franchise consolidation as announced by the Land Transportation Franchising Board (LTRB).
