Big-Time Oil Price Hike to Happen This Week

Oil companies are set to jack up their diesel and gasoline prices come this week.

First to announce was independent oil player Cleanfuel, which is pegged to increase fuel prices by Wednesday, September 18.

Shortly after midnight, Cleanfuel will raise price of diesel by PHP0.85/L and gasoline by PHP1.35/L.

Shell will implement the price hike on an earlier date, September 17.

Aside from gasoline and diesel, its price for kerosene will also be up by PHP1.

Total has also announced that the same price hike will take effect at 6 AM tomorrow on September 17 as well.

Other oil firms are expected to follow suit.

The said movement came after two major Saudi oil installations were attacked.