Oil firms to hike prices for 4th straight time on January 29

Ralf Rivas

This is AI generated summarization, which may have errors. For context, always refer to the full article.

Oil firms to hike prices for 4th straight time on January 29
Oil companies say the hike is due to price movements in the international market

MANILA, Philippines – Fuel prices will once again rise on Tuesday, January 29, as global forces place pressure on the commodity.

Shell, PTT Philippines, Total, Unioil, and Petro Gazz will jack up diesel prices by P0.55 per liter and gasoline by P0.20 per liter.

Companies which carry kerosene will also increase its price by P0.40 per liter.

This is the 4th straight time that oil prices are going up.

The price adjustments are taking effect at 6 am on Tuesday.

Companies said the hike is still not due to the second tranche of fuel excise tax mandated by the Tax Reform for Acceleration and Inclusion (TRAIN) law.

But more than 20% of all gas stations have started implementing higher prices due to the fuel excise tax hike.

Latest data from the Department of Energy showed common diesel prices in Metro Manila ranging from P40.54 to P42.29 per liter, while common gasoline prices are around P49.80 to P50.04 per liter. – Rappler.com

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.

Summarize this article with AI
Tie, Accessories, Accessory


Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.