Another round of oil price hike set Tuesday

January 30, 2023

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FUEL PRICE HIKE. An attendant fills up the fuel tank of a motorcycle rider at a gas station along Congressional Road in Barangay Salitran III, Dasmarinas City in Cavite on Tuesday (Oct. 18, 2022). Oil companies have adjusted petroleum prices for diesel by PHP2.70 per liter and gasoline by PHP0.80 per liter starting Tuesday. (PNA photo by Gil Calinga)

Another round of oil price hike is set to take place on Tuesday, Jan. 31.

Diesel prices will increase from P1.20 to P1.40 per liter while diesel will go up from P0.60 to P.0.80 per liter.

The Department of Energy said it anticipates a decrease in the price of petroleum products in the first and second quarter of 2023 due to a decline in total demand. –KC/ gb

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