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Gasoline, diesel prices up starting June 14

Gasoline, diesel prices up starting June 14

By VJ Bacungan, for Automart.PH

METRO MANILA, June 13, 2022 – Oil companies are increasing the prices of diesel and gasoline on June 14, 2022.

Cleanfuel announced in a June 13, 2022 Facebook post that it will raise the price of unleaded by P2.15 a liter tomorrow starting 8:01 a.m. Unioil announced on Facebook a similar increase effective 6:01 a.m.

This follows the P2.70 a liter increase that all oil companies made last week for gasoline fuels.

Meanwhile, the firms said they will hike diesel prices by P4.30, on top of the huge P6.55 a liter increase implemented on June 7, 2022.

automart poster for fuel price

The Philippine Statistics Authority (PSA) announced on June 7, 2022 that inflation for May 2022 reached 5.4 percent, up from the 4.9 percent recorded in April this year.

Inflation rate is used to measure the increase in the price of goods and services. The average inflation rate for the year is now at 4.1 percent, which is beyond the 4-percent limit set by the government for 2022.

The PSA said the increase in transport costs, which rely heavily on fuel prices, was the largest contributor at 14.6 percent.