Oil consumers are in for a big price shock on September 19 after the oil companies announced a price increase of as high as P2.50 per liter after more than two months of successive price hikes.
The oil firms increased the price of gasoline by P2.50 per liter for diesel, and P2 per liter for gasoline and kerosene, respectively effective 6 AM Tuesday due to the tight supply of oil products in the world market.
“Petron will implement the following price increases effective 6 a.m. on Sep 19: P 2.00/li for gasoline; Php 2.50/li for diesel and Php 2.00/li for kerosene. These reflect movements in the international oil market,” the country’s lone oil refiner said.
Last September 13, the oil companies implemented an increase of P0.20/liter for gasoline, P0.40/liter for diesel and P0.20/liter for kerosene.
According to the Department of Energy, these price adjustments resulted in a year-to-date net increase of P15.50/liter for gasoline, P11.10/liter diesel and P7.94/liter for kerosene.