Big-time oil price hike today

January 14, 2019

OIL companies will implement their second wave of fuel price increases effective today.

Independent oil firm PTT Philippines and major oil firms Petron Corporation, Pilipinas Shell and Chevron Philippines yesterday said they will raise their diesel prices by P2.30 per liter, gasoline by P1.40 per liter and kerosene by P2.00 per liter effective 6 a.m. today.

The oil firms clarified that today’s adjustments only reflect the changes in the prices of petroleum products in the world market and do not yet include the additional taxes under the Tax Reform Acceleration and Inclusion (TRAI) Law.

Petroleum Philippines Inc., Petro Gazz, Seaoil Philippines Inc. and Total Corp. also announced the same price adjustments effective today.