Another big-time oil price hike set from June 14

Fuel pumps. AFP FILE PHOTO

MANILA, Philippines — Another round of big-time increases in fuel prices will take place starting Tuesday, oil companies announced.

Shell, Cleanfuel, SeaOil, and Caltex will jack up the prices of their gasoline by P2.15 per liter and diesel by P4.30 per liter, as the cost of kerosene will also inflate by 4.85 per liter from June 14.

Caltex and Cleanfuel will impose the price movements beginning at 12:01 a.m. and 8:01 a.m., respectively, Tuesday, while Shell and SeaOil will impose the price adjustments on the same day at 6 a.m.

Since Russia, a key crude producer, invaded Ukraine early this year, fuel prices swelled, leading to increases in the prices of basic commodities.

READ: Monthly price rise seen at 5% for 2022

GRAPHIC: Sam Yap

Russia recently said they are “ready to cooperate” and help the Philippines address the soaring prices of petroleum products.

The government via the Land Transportation Franchising and Regulatory Board, meanwhile, approved a P1 provisional fare hike in Metro Manila, Central Luzon, and Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) in an effort to help public utility jeepney drivers and operators cope with the oil price hikes. Due to this, the minimum jeepney fare in these regions stood at P10 from June 9.

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