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Big-time oil price hike set for January 15

January 14, 2019 10:57 AM
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The Department of Energy says the increase is due to oil-producing countries cutting their output to stabilize global prices

MANILA, Philippines – Pump prices are set to spike on Tuesday, January 15, as oil-producing countries like Saudi Arabia cut their output to prevent oversupply.

Shell, Petron, Caltex, Flying V, Unioil, Seaoil, Total, PTT Philippines, Eastern Petroleum, Phoenix Petroleum, Petro Gazz, and Jetti said they will increase diesel prices by P2.30 per liter and gasoline by P1.40 per liter.

price adjustments at 6 am on Tuesday, except for Caltex and Eastern Petroleum, which will implement theirs at 12:01 am.

Source: rappler.com

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