Big hike in fuel prices set on Tuesday

ABS-CBN News

<p>MANILA (<strong>UPDATE</strong>) — Oil firms are set to implement another large hike in pump prices on Tuesday. </p><p>The following oil firms have confirmed that they will be hiking fuel prices tomorrow at these times:</p><p><strong>Caltex (12:01 a.m.)</strong><br/>GASOLINE +P2.60/L<br/>DIESEL +P1.70/L<br/>KEROSENE +P1.90/L</p><p><strong>Shell, Seaoil (6 a.m.)</strong><br/>GASOLINE +P2.60/L<br/>DIESEL +P1.70/L<br/>KEROSENE +P1.90/L</p><p><strong>Jetti Petroleum, Petro Gazz (6 a.m.)</strong><br/>GASOLINE +P2.60/L<br/>DIESEL +P1.70/L</p><p><strong>Cleanfuel (4:01 p.m.)</strong><br/>GASOLINE +P2.60/L<br/>DIESEL +P1.70/L</p><p>Other oil firms are expected to announce similar price hikes. </p><p>The hikes follow the 1.66 million barrels per day cut in production by the Saudi-led Organization of Petroleum Exporting Countries and Russia. </p><p>Meanwhile independent LPG vendor Regasco said it would cut prices P2.50 per liter starting Tuesday.</p><p>The company said the world contract price of LPG has gone down due to low consumption following the end of winter in Asia. </p><p>Price increases in fuel were partly responsible for pushing inflation to 14-year highs in the past few months.</p><p>Finance Secretary Benjamin Diokno however has downplayed the impact of the OPEC production cuts saying he still expects inflation to have already peaked.</p><div><strong>— With reports from Alvin Elchico and Jervis Manahan, ABS-CBN News</strong></div><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/04/03/23/oil-market-surges-on-shock-output-cuts">Oil market surges on shock output cuts</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2571592" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div><div class="iwantbar"> </div>

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Big hike in fuel prices set on Tuesday

Big hike in fuel prices set on Tuesday

ABS-CBN News

Published Apr 10, 2023 01:37 PM PHT

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Updated Apr 10, 2023 07:00 PM PHT

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oil price hike

pump prices

fuel prices

gasoline

diesel

OPEC

Saudi

Russia

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