Gasoline, diesel prices going up on June 28

By VJ Bacungan, for Automart.PH

METRO MANILA, June 27, 2022 – Oil companies will be raising the prices of gasoline and diesel again starting June 28, 2022.

Cleanfuel announced in a June 27, 2022 Facebook post that it will raise the price of diesel by P1.65 a liter at 8:01 a.m. tomorrow.

This is on top of the P3.10 a liter hike that it imposed on June 21, 2022.

In a June 25, 2022 Facebook post, Unioil forecast an increase of up to P1.40 a liter for diesel.

Meanwhile, Cleanfuel said it would increase the price of unleaded by P0.50 a liter, which adds to the P0.80 a liter price hike that oil firms implemented last week.

Unioil projected last week a maximum increase of P0.20 a liter for unleaded.

This week’s advisory represents the fourth consecutive week of fuel price increases nationwide in light of global oil supply issues. This is partly because of the conflict between Ukraine and Russia, which is a major global oil producer.

The depreciation of the peso against the U.S. dollar has also increased the import costs of fuel. As of press time, it stands at P54.985 to $1, which is the weakest it has been in 16 years.