More than P1/L oil price hike to be implemented this week
Upcoming hike to be implemented following last week's pump price reduction
Oil players in the Philippines will raise the prices of their products at the pump by more than P1 per liter this week.
KEY TAKEAWAYS
How much is the pump price adjustment for February 20, 2024?
Local players will raise the prices of gasoline pump prices by P1.60 per liter, diesel by P1.10 per liter, and kerosene by P1.05 per liter.What time will the prices be adjusted?
The adjustments will be implemented as early as 12:01 a.m. of February 20, 2024 by some brands.Caltex, Cleanfuel, Petron, Seaoil, and Unioil stated in their respective advisories that they are set to increase the retail price of gasoline by P1.60 per liter and diesel by P1.10 per liter.
Additionally, Caltex, Petron, and Seaoil shall jack up the price of kerosene by P1.05 per liter.
The adjustments, which other companies are expected to follow suit, will take place as early as 12:01 a.m. tomorrow (February 20).
Last week, local oil players slashed P0.60 per liter on gasoline, diesel by P0.10 per liter, and kerosene by P0.40 per liter.
Photos by Ruben Manahan IV
Also read:
Gas retail price hike to breach P1/L this week
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