12th week of oil price hike

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Oil companies will again increase the prices of petroleum products effective Tuesday, the 12th week since the start of this year.

          Caltex Philippines, Unioil, Seaoil, and PTT Philippines will have uniform increases in the prices of diesel at P8.65 per liter and at P3.40 per liter for gasoline.

          Caltex will hike prices effective 12:01 a.m. on March 29, while the other companies will follow suit at 6 a.m.

          A P9.40 per liter increase in the cost of kerosene will also take effect Tuesday.

          Last week, the oil companies implemented a uniform rollback in the prices of petroleum products at P11.45 per liter of diesel and P5.45/L in the prices of gasoline, after transport groups held a strike to protest the 11 consecutive weeks of price increases since the start of 2022 and to air their complaints about the unfair distribution of fuel subsidy from the government.

          Major transport groups in Bacolod and Negros Occidental also scheduled a two-day strike March 21 and 22, but the second day of protest was called off after a dialogue on fuel subsidy distribution was held. | CHERYL G. CRUZ