Bigtime price hike on oil price starting today

An employee holds a gas pump at a petrol station in Sao Paulo, Brazil, November 8, 2016. REUTERS/Paulo Whitaker/File Photo
 REUTERS/Paulo Whitaker/File Photo

Petroleum companies will once again implement a price hike on all their oil products starting midnight of Tuesday.

The new round of price hike came after they already implemented a price hike of Php1.20 per liter on gasoline, Php0.70 per liter on Diesel and Php0.70 as well on all Kerosene products.

Flying V will be the first to implement said oil price hike starting midnight, followed by Shell, Phoenix Petroleum, Jetti, Caltex, Phoenix, PTT and Seaoil in the morning.

Other petroleum companies are expected to follow suit.

This will be the second time in a month that petroleum companies have to implement a price hike on their products.

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