BIG-TIME OIL PRICE HIKE EFFECTIVE JUNE 25

OIL firms will implement another hefty upward adjustment starting Tuesday,  June 25, 2024.

In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, Shell, and Unioil said they would increase gasoline prices by P1.40 per liter, and diesel prices by P1.75 per liter.

Caltex, Seaoil, and Shell will also increase kerosene prices by P1.05 per liter.

This will be the second consecutive week that oil companies hike prices at the pump.

Industry experts said oil prices have increased in the global market on the back of geopolitical tensions, specifically Ukraine’s drone strike that caused a fire in a major oil terminal in Russia, as well as the looming full-blown war between Israel and Lebanon’s Hezbollah.

Last week, oil companies also implemented a big adjustment in fuel prices.