The country’s oil firms raised pump prices by as much as P1.70 per liter effective 6 a.m. today [Tuesday], reflecting the continuing volatility of world oil prices due to the Ukraine-Russia crisis.
“Petron will implement the following price increases effective 6 a.m. on April 19: P0.45/li gasoline; P 1.70/li for diesel and P0.45/li for kerosene. These reflect movements in the international oil market,” Petron Corp., the country’s biggest oil firm, said in its advisory.
Seaoil Philippines, Chevron Philippines, PTT Philippines, Cleanfuel, and PetroGazz also raised pump prices while other companies are expected to follow.
On Monday, however, oil prices inched lower amid concerns of slowdown in demand due to lockdowns in China and the ongoing Ukraine crisis, according to Reuters.
On April 12, the oil companies implemented a price rollback for gasoline of P1 per liter, diesel by P0.35 per liter, and kerosene by P3 per liter.
These resulted in the year-to-date adjustments to stand at a net increase of P15 per liter for gasoline, P25.65 per liter for diesel, and P21.10 per liter for kerosene.
Meanwhile, Phoenix Petroleum Philippines offered a P3 per liter price cut on Monday for the opening of three new stations in Metro Manila.
Available for one day only, the discount applies to all fuel products, which are blended with the brand’s signature PULSE technology.
The limited discount was available at Phoenix Pioneer, located at Pioneer St. corner Shaw Blvd., Mandaluyong City; Phoenix Harvard, located at EDSA corner Harvard St., Makati City (near Kalayaan); and Phoenix Super 8, located along Ortigas Extension, Pasig City.
“We are making our products more accessible by opening more stations, and offering this promo amid fluctuating fuel prices so that today’s motorists can get more value when they gas up, and experience the difference our high-quality products can make,” said Phoenix president Bong Fadullon.
