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
Department of Energy data indicates that the increase
in petroleum products is higher that the roll back
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.