Photo by Benjie Cuaresma
Oil companies are poised to initiate another round of significant price hikes at the pump, scheduled for Tuesday, August 15, 2023.
In separate announcements, Pilipinas Shell, Petron, and Unioil have indicated their intentions to raise gasoline prices by P1.90 per liter, diesel by P1.50 per liter, and kerosene by P2.50 per liter.
These price revisions are slated to become effective at 6 a.m.
Stakeholders within the industry have cited the ongoing reduction in oil production by Saudi Arabia as the primary driver behind these price increases.
