MANILA, PHILIPPINES — Another set of fuel price hikes is set to take effect on Tuesday, June 21, 2022, according to industry sources.
On a June 18 forecast, prices for gasoline per liter were expected to rise between P0.30 to P0.60 per liter, diesel by P2.40 to P2.70 per liter. In addition, kerosene prices were also set to increase by P1.60 to P2.00 per liter.
Oil firms confirmed the fuel price increase through separate advisories late Monday.
Effective 6:00 am on June 21, Flying V, Petron, Phoenix Petroleum Philippines, PetroGazz, Pilipinas SHELL, SeaOil, PTT Philippines, and Jetti Petroleum will increase gasoline prices by P0.80/liter, diesel by P3.10/liter, and kerosene by P1.70/liter.
Effective 12:01 am on June 21, Caltex will increase gasoline prices by P0.80/liter, diesel by P3.10/liter, and Kerosene by P1.70/liter.
Effective 08:01 am on June 21, CleanFuel will increase gasoline prices by P0.80/liter and diesel by P3.10/liter.
On June 14, fuel prices rose by P2.15/liter for gasoline, diesel by P6.55/liter, and kerosene by P5.45/liter. Meanwhile, previous price adjustments on June 7 were P2.70/liter increase for gasoline, diesel by P6.55/liter, and kerosene by P5.45/liter.
According to the Department of Energy (DOE) Oil Monitor, the net increase in fuel prices in the country as of this year is P28.70/liter for gasoline, P41.15/liter for diesel, and P37.95/liter for kerosene.
Rino Abad, DOE Oil Industry Management Bureau Director, said that the lower increase in prices could be attributed to the lockdown in China. However, the European Union’s ban on Russian imports has continued to drive fuel price hikes.
Earlier this month, the Land Transportation Franchising and Regulatory Board (LTFRB) said that it is set to roll out the second tranche of the P5-billion fuel subsidy program late June or early July to drivers of public utility vehicles (PUVs). – WhatALife!
Also read: Fuel price hikes effective June 14, 2022