Bigger oil price hike looms on April 26; gas, diesel prices to increase by at least P3 per liter

(File photo) A view of a gasoline station in Alabang, Muntinlupa on March 28, 2022 (Photo by Carmie Hufano, NEU, for Eagle News Service)


(Eagle News) – Another oil price hike is set next week where gasoline and diesel prices are set to increase between P3 to P4 per liter.

Some oil companies have already issued advisories about the price hike that is scheduled on Tuesday, April 26.

Unioil said that their diesel process would increase by P3.90 to P4.10 per liter, while gasoline prices would go up by P3 to 3.20 per liter.

This is the second price hike after two weeks of price rollback.

However, this price adjustment is higher than the April 19 price hike.

a view of a gas pump in a gasoline station in Quezon City (NEU students’ contributed photo for Eagle News Service)

Last Tuesday, oil firms increased their prices by P1.70 per liter for diesel, P0.45 per liter for gasoline, and also P0.45 per liter for kerosene.

The continuing Russia-Ukraine conflict is still the top reason for the price adjustments that affected world crude prices, as well as ongoing discussions on more countries implementing a Russia oil ban.

Oil prices have been mostly rising since the start of the year.

(Eagle News Service)