For two years now, “Moshie,” a taxi driver, has been filling up his tank twice a day, depending on his trips.
But with the fluctuating prices of petroleum products, he can’t help but see a decrease in his income.
Meanwhile, 68-year-old Steve seems to have grown accustomed to the unpredictable prices of petroleum products.
But they will once again have to brace their wallets for this week’s big-time oil price hike.
Chevron Philippines Inc. (Caltex), Seaoil Philippines Corp., and Shell Pilipinas Corp. announced that they will increase prices by P2.65 per liter for gasoline, P2.70 for diesel, and P2.60 for kerosene.
Other oil companies already raised their prices last week, increasing diesel by P1.20 and kerosene by P0.70 per liter.
The price hike will be implemented starting at 6 AM tomorrow, Tuesday, October 15, while Clean Fuel will raise prices past 4 PM.
This marks the fourth consecutive week of diesel price hikes and the third for kerosene products.
According to the Oil Industry Management of the Department of Energy, the new price hike is due to unrest in the Middle East and production cuts from some Middle Eastern countries.
This also caused year-to-date adjustments, with gasoline prices increasing by P6.05 per liter, diesel by P4.05 per liter, and a net decrease of P5.35 per liter for kerosene on October 8.
**VANESSA BUGTONG
