New round of fossil fuel price hike

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MANILA, Philippines – Oil companies announced Tuesday about a new round of price adjustments on fossil fuel barely a week from the previous one and only three days into the Christmas month of December.

Chevron Philippines (Caltex) led the way in implementing the new price adjustments that took effect as early as 12 a.m. Tuesday.

Chevron Philippines (Caltex) raised P.30 cents per liter of gasoline and P.65 cents on diesel.

Philippines Shell, Total Philippines, Phoenix Petroleum, Seaoil Philippines, PTT Philippines and Petrogazz collectively approved a price increase effective later at 6 a.m. Tuesday morning.

Said companies raised about P.30 cents per liter of gasoline and P.65 cents on diesel while Shell also raised P.50 cents per liter on kerosene.

Meanwhile, Clean Fuel will also be implementing today (Wednesday), an additional price by 12: 01 a.m. at the same price with Shell.

According to a data from the Department of Energy, from October 1 to November 26, the price for Diesel has rolled back nine times and price increase but once.

On the other hand, prices on gasoline allegedly rolled back six times and price increased but four times.

Meanwhile, Kerosene accordingly rolled back eight times, and price increased but once. (Gelica Paulo/IAMIGO/CNS)

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