THE fourth round of oil price hike in four consecutive weeks took effect today.
The increase, however, was only in pump prices of gasoline and diesel which were pegged at P0.40 and P0.30 per liter, respectively.
There is no increase in pump prices for kerosene due to state of emergency due to lawless violence pursuant to President Duterte’s declaration following the bloody Davao explosion that killed 14 persons and wounded at least 70 others.
The implementation of the increase were spearheaded by Pilipinas Shell, one of the country’s oil giants, and Flying V, one of the so-called independent oil industry players.
Ina Soriano, communications officer of Pilipinas Shell, said price increase in their petroleum products took effect at 6 a.m. today while Flying V at 12:01 a.m.
The latest round of oil price hike was highlighted by the Aug. 24 implementation of big-time oil price hike of P1.45 per liter in pump prices both in diesel and kerosene while P1.35 in gasoline.
Producers of liquified petroleum gas also increased their prices at P12.65 per 12-kilogram LPG tank for cooking and P0.65 in auto-LPG.