Oil firms to impose another pump price hike Tuesday
MANILA, Philippines — For the second consecutive week, oil firms will impose another hike in pump prices starting April 26.
In advisories released Monday, Shell, Cleanfuel, SeaOil, Metro Oil, Caltex, PTT, and Jetti will increase their gasoline cost by P3 per liter and diesel price by P4.10 per liter.
The firms offering kerosene, namely Shell, SeaOil, Metro Oil, and Caltex, will swell its price by P3.50 per liter.
Shell, SeaOil, Metro Oil, PTT, and Jetti’s price movement will take effect on Tuesday, 6 a.m. while Caltex and Cleanfuel will start at 12:01 a.m. and 08:01 a.m., respectively.
According to the Department of Energy, the ongoing Ukraine-Russia conflict and the European Union’s possible embargo on Russian oil contributed to the rise in crude prices.