Big Time Oil Price Hike Looming?

 

Big time oil price hike looming this week.

 

Motorists and oil consumers asked how much?

 

The big 3 Philippine oil companies have not announced

any price increase but it is believed that the looming

increase in petroleum products are substantial

especially gasoline.

 

Department of Energy data indicates that the increase

in petroleum products is higher that the roll back

in prices.

 

Some motorists went to the gasoline stations early

to fill up their gas tanks. Some of them filled their

gas tanks full after they heard that their will be

an oil price hike.

 

The top Philippine oil companies have not yet announced

any increase or intention to increase the prices of gasoline

and other petroleum products.

 

According to an oil industry sources, the looming oil

price hike is sure to happen and according to their

computation, the increase may reach 1 peso increase

per liter of gasoline and .20 centavos increase per

liter of diesel.

 

Some motorists interviewed said that the oil companies

must not increase the prices of petroleum products and

that companies must first increase the monthly salaries

of workers. Some said they can not do nothing about it

if and when oil companies decide to increase prices.

 

The Department of Energy data showed that since January,

the total increase in the prices of gasoline per liter is

4.64 pesos and 1.01 pesos per liter of diesel.

 

PISTON, a motorists association is pissed of and threaten

to protest in the office of one of the biggest oil

companies in the Philippines this coming Tuesday.

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