Fuel Companies Releases Details on Oil Price Hike Set for November 15 (Tuesday)
OIL PRICE HIKE – Several fuel companies confirmed an increase on the costs of diesel, gasoline, and kerosene starting November 15.
The costs of oil products is unstable for several months now. It is almost every week that the price of gasoline, diesel, and kerosene changes. The costs of oil products in several gas stations also differ.
The price of oil is dependent on several factors including its status in the world market. Usually, there are forecasts about the possibility of an oil price hike or rollback on a Friday afternoon or the following day. Oil companies usually confirm increases or drop in the prices of fuel on Monday and implement it on Tuesday.
For November 15, 2022, several fuel stations including Caltex, Shell, Seaoil, Petro Gazz, and Cleanfuel have confirmed the oil price hike for gasoline and kerosene. On the other side, diesel will experience a drop in its cost. Here are the changes set on Tuesday, November 15, 2022:
Caltex (starting 12:01 midnight)
- Gasoline: +P0.90 per liter
- Diesel: -P0.30 per liter
- Kerosene: +P1.35 per liter
Shell, Seaoil (starting 6 a.m.)
- Gasoline: +P0.90 per liter
- Diesel: -P0.30 per liter
- Kerosene: +P1.35 per liter
Petro Gazz (starting 6 a.m.)
- Gasoline: +P0.90 per liter
- Diesel: -P0.30 per liter
Cleanfuel (starting 4:01 p.m.)
- Gasoline: +P0.90 per liter
- Diesel: -P0.30 per liter
Based on the report, the instability in the prices of oil is due to different factors including the decreased of the demand in China due to the zero-COVID policy and the plan of the Organization of the Petroleum Exporting Countries (OPEC) Plus to reduce the production of oil this November.
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