If you just got back from that holiday road trip, it may be a good idea to gas up today.
The country's major fuel companies have announced that prices of gasoline, diesel, and kerosene will go up again tomorrow, January 4, 2022. And we're not talking about a few centavos; the price hikes are quite significant.
After a rather steady rollback of fuel prices in December 2021, fuel companies will increase the price of gasoline by PHP 1.85 and kerosene by PHP 1.85. However, it's the price of diesel that will be affected more – a PHP 2.40 increase. So far Seaoil, Shell, Unioil have already confirmed that the price adjustment in fuel will take effect at 6:00 AM on January 4, 2022. Meanwhile, Cleanfuel will adjust their fuel prices at 4:01 PM on the same day.
Petron, Caltex, and other fuel companies have yet to make an official announcement regarding their fuel price increase. However, they are expected to adjust the prices of their fuels as well.
A big price hike in fuel is not the best way to welcome 2022, but at least motorists still have time to fuel up their vehicles today up until 5:59 AM on January 4. Considering how big the jump will be, expect to see cars queueing up at gas stations today.