Beginning on Tuesday, oil companies will impose the second consecutive week of significant pump price increases (June 14, 2022).

Petroleum product prices have a significant impact on the country’s economy. Pump price changes have a massive impact on the cost of goods and services in the country.

Pump price rises also add to the everyday pressure of Filipinos, particularly those who rely on public transportation for a job as well as those who rely on private cars to get around.

Multiple gasoline stations reported another significant increase in the pricing of petroleum products, including gasoline, diesel, and kerosene, on Monday (June 13, 2022). The next price rise will be the second consecutive week of hikes.

Pilipinas Shell Petroleum Corp. would increase the price of gasoline by P2.15 per liter, diesel by P4.30 per liter, and kerosene by P4.85 per liter. Except for kerosene, which it does not carry, Cleanfuel will apply same changes.

Except for Cleanfuel, which will implement the changes at 8:01 a.m. On Tuesday, all oil firms are scheduled to implement the price adjustment at 6:00 a.m. Other companies are expected to make similar statements earlier this week.

The price increase was driven by the summertime in northern hemisphere countries, the loosening of lockdown in China, and the Russia-Ukraine war, according to the Director of the Department of Energy-Oil Industry Management Bureau Rino Abad.

The Energy Department also published the most recent year-to-date changes. As of June 7, 2022, the total net increase is P26.55 per liter of gasoline, P36.85 per liter of diesel, and P33.10 per liter of kerosene.