MANILA, PHILIPPINES — Another major oil price hike is scheduled today, April 26, according to oil firms.

On Monday, Caltex, Cleanfuel, Flying V, Petro Gazz, Phoenix, Petron, PTT Philippines, Seaoil, Total, and Unioil announced that they will increase their gasoline by PHP3 per liter and PHP4.10 per liter for diesel.

On the other hand, Shell, SeaOil, Caltex, Flying V, Petron and Metro Oil also informed the public of an increase in kerosene prices at PHP3.50 per liter.

These changes began at 6:00 AM for Shell, SeaOil, Metro Oil, Jetti, and PTT. Meanwhile, Caltex fuel price hike was scheduled at 12:01 AM and 8:01 AM for Cleanfuel.

According to the oil monitor of Department of Energy, the per-liter net increases of gasoline is at PHP 15, diesel at PHP 25.65, and kerosene at PHP 21.10 as of April 12, 2022.

The government agency also affirmed that the rise in crude prices is a result of the ongoing Ukraine-Russia conflict and the EU’s (European Union) possible restriction of Russian oil. – WhatALife!

Source: (inquirer.net), (cnnphilippines.com)

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