Motorists will have to brace for yet another wave of oil price hikes this last week of April and into the first few days of May, particularly for gasoline, which will see an increase of over ₱1.
Shell Pilipinas Corp. and Seaoil Philippines Corp. have both announced the following adjustments:
- Gasoline - ₱1.35/L increase
- Diesel - ₱0.80/L increase
- Kerosene - ₱0.70/L increase
Cleanfuel and Petro Gazz will also raise their pump prices accordingly, except for kerosene, which they do not carry.
The price hikes will take effect on Tuesday, April 29, at 6 AM for all firms, excluding Cleanfuel, which will be adjusting its prices at 4:01 PM on the same day.
Similar announcements have yet to be made by other firms.
The Department of Energy - Oil Industry Management Bureau (DOE - OIMB) predicted climbing prices this week, due to the newly-enforced US sanctions on Iran’s oil shipping network, and the United States’ rapidly diminishing crude inventories.
