April 26 2022 fuel price hike

Last week, we reported on an expected fuel price hike for January 26, 2022. That's coming to fruition, as several local oil companies have released separate advisories regarding a price increase set for Tuesday.

Pilipinas Shell Petroleum Corp., Seaoil Philippines Inc., and Cleanfuel have each issued statements disclosing an increase in prices per liter of gasoline by P3.00, diesel by P4.10. Shell and Seaoil will also increase the per liter price of kerosene by P3.50. Cleanfuel does not carry kerosene.

So, with fuel prices increasing for what will be the 14th time this year, today could be the last chance for motorists to fuel up before tomorrow's price hike. Pump prices at Shell and Seaoil gas stations will rise at 6 AM on Tuesday, April 26, 2022, while Cleanfuel stations will wait until 8 AM to implement the price adjustments.

We advise motorists to head to their local gas stations to fill their tanks before the oil price hike. Global oil prices have continued to soar this year on account of multiple factors, including the relaxation of COVID-19 restrictions and subsequent reopening of the Chinese economy, the ongoing conflict in eastern Europe, and other possible causes.

Compared to the same time last year, fuel prices will have risen by P18.45 for gasoline and P31.45 for diesel. These are significant price increases that have affected the lives and livelihoods of working-class people all over the Philippines. It remains to be seen when global oil prices could stabilize, so for now, motorists will have to tighten their belts and brace for the worst. 

The Philippine government has since taken steps to alleviate the worst-hit sectors from the effects of the price hikes. The most notable action so far has been the distribution of gas vouchers to public utility vehicle (PUV) drivers at the national and local levels.

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