Oil Price Hike: Diesel, Kerosene Set To Increase by over P6/Liter

Details about the Oil Price Hike on Tuesday, August 30

OIL PRICE HIKE – The prices of diesel and kerosene are set to increase by over P6 per liter on Tuesday, August 30, 2022.

Almost every week, there are changes in the prices of fuel in different gasoline stations across the nation. The changes may also bring the fuel prices to different amounts among several gas stations in the country. Changes are usually taking place on a Tuesday and it will depend on the closing of the stock market on Friday prior to it.

Undeniably, the changes in the prices of fuel whether it is diesel, gasoline, or kerosene are among those that affect a lot of people. Among those who are greatly affected are public utility vehicle (PUV) drivers, private car owners, and businesses. There are several businesses that use fuel to operate.

Beginning January 2022, there were several oil price hike scenarios that led the prices of diesel and gasoline to unimaginable costs. There were weeks when diesel and gasoline were at at least P90 per liter in some fuel stations.

Oil Price Hike

The Philippine government released fuel assistance to PUV drivers amid the high prices of oil products in the country. The government rejected the call for the suspension of the fuel excise tax.

Previously, there were several rollbacks in the prices of fuel. According to the authorities, those were due to the decline in the demand for oil products in some countries. The lockdowns in other nations were cited as the root cause.

Recently, several gasoline stations confirmed that another oil price hike is set to be implemented tomorrow, Tuesday, August 30. Based on a report on ABS-CBN News, here are the expected price adjustments to be implemented:

Shell, Seaoil (starting 6:00 a.m.)

  • Gasoline: +P1.40 per liter
  • Diesel: +P6.10 per liter
  • Kerosene: +P6.10 per liter

Cleanfuel (starting 8:01 a.m.)

  • Gasoline: +P1.40 per liter
  • Diesel: +P6.10 per liter

You may also visit – US President Joe Biden Calls on Oil Companies to Lower Fuel Prices

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