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BIG-TIME PRICE HIKES. Oil companies will implement big-time price hikes on petroleum prices effective Tuesday (May 10, 2022). Oil prices in the international market climbed for two straight weeks with the planned European Union sanctions on Russian oil, contributing to supply concerns. (File photo) MANILA - After a minimal price rollback last week, oil firms will implement big-time price hikes on petroleum prices after election day. In separate advisories on Monday, Caltex, Cleanfuel, Flying V, Petro Gazz, Petron, Phoenix Petroleum, Seaoil, Shell, and Unioil said they will increase both diesel and gasoline prices by PHP4.20 per liter. Caltex, Flying V, Petron, Seaoil, and Shell will also raise the price by PHP5.85 per liter. Oil price hikes will start at 12:01 a.m. Tuesday. Despite the reduction last week, fuel prices stood a net increase since the start of the year -gasoline prices, up by PHP17.05 per liter; diesel prices, up by PHP29.20 per liter; and kerosene prices, up by PHP22.95 ....
File photo MANILA - Oil companies will implement up to double-digit price hikes starting Tuesday, marking the 11th straight week of increases with pump prices. Caltex, Cleanfuel, Flying V, PTT Philippines, Petron, Seaoil, and Shell said they will raise gasoline prices by PHP7.10 per liter and PHP13.15 per liter for diesel Caltex, Flying V, Petron, Seaoil, and Shell will also increase kerosene prices by PHP10.50 per liter. For Seaoil, motorists and consumers do not need to rush to the gas station as they can lock the current prices and can be used when fuel prices will further go up. "Seaoil customers will still enjoy current prices through the PriceLOCQ app until 6 a.m. of March 16, 2022, Wednesday. This will give motorists one extra day to download the app, lock current fuel prices, and protect themselves from the upcoming big-time price hikes," the oil firm said in a statement. Department of Energy (DOE) Secretary Alfonso Cusi said Monday morning the price increase in diese ....