Oil Price Hike Set before Christmas Day
OIL PRICE HIKE – An increase in the prices of fuel is set to take place on December 21, 2021 as per the authorities in the oil industry.
One of the price increase that affects a lot of people is the upward trend of the prices of oil or fuel. This does not only affect those who own vehicles but even those who are in businesses. Ordinary individuals who are commuters may also be greatly affected by it.
Previously, there was a series of oil price hikes that urged several transport groups to file a petition. They appealed to increase the minimum fare in jeepneys by P3.00 amid the reduced seating capacity and the increasing trend of the oil prices.
The government assured fuel subsidies for PUV drivers who are affected by the oil price hike. Also, jeepney capacities were adjusted amid the less-strict measures now.
For a few weeks, there was also a series of drops in the prices of oil. It greatly eased the worries of a lot of people. However, the said prices are sensitive to a lot of factors and may change anytime.
Based on a recent report on ABS-CBN News, another oil price hike is set this December 21, 2021. The people in the oil industry gave a rough estimate of between P0.50 to P0.70 increase per liter. It is the second time that the prices of oil went up this month and ahead of the Christmas season.
The following are the expected increases on oil:
- Gasoline – Php 0.50 to Php 0.70 per liter
- Diesel – Php 0.50 to Php 0.60 per liter
- Kerosene – Php 0.60 to Php 0.70 per liter
According to the report, Phoenix Petroleum said that it will not implement the oil price hike in provinces hit by Typhoon Odette.
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