Oil price hike in effect today, May 10
We really hope you had your tanks filled up last weekend.
Following a modest rollback last week, oil prices have surged again. This morning, oil players in the country have imposed a price increase of PHP 4.20 per liter for both diesel and gasoline fuel products, while kerosene increased by PHP 5.85 per liter.
To show you just how much oil prices have increased, we took some pictures of select gasoline stations along the Manila and Quezon City area. Just a quick disclaimer: prices in other areas could reflect different fuel prices, so these photos only serve as a reference.
First is the CleanFuel gas station along the corner of Piy Margal street in the City of Manila. They now have their diesel priced at exactly PHP 78 per liter, while their cheapest gasoline fuel offering is priced at PHP 76.10 per liter.
Next is the Seaoil gas station along Quezon Avenue. The company announced their increase took effect at 6:00 AM this morning, bringing their diesel price to PHP 76.55 per liter. For gasoline, the price is set at PHP 73.70 per liter.
On the other hand, the Petron filling station along Quezon Avenue has their regular diesel max fuel priced at PHP 78.20 per liter. Their 100-octane gasoline fuel, the Blaze 100, is priced cheaper than their turbo diesel fuel product at PHP 79.30 per liter.
Lastly, the Unioil gas station just after Petron is offering their diesel fuel product at PHP 78.10 per liter, while their 91-octane gasoline fuel is pegged at PHP 75.85 per liter.
The proposed ban on Russian oil in Europe is still one of the main reasons why we're seeing these soaring prices. With the end still nowhere in sight, we can't help but quote a familiar song. “War, what is it good for?”