Oil price hike set for April 30

MANILA, Philippines – Oil prices will rise on Tuesday, April 30, as petroleum-exporting countries continue to withhold supply.

Shell and Petro Gazz announced on Monday, April 29, that gasoline prices will be increased by P0.75 per liter, while diesel will be hiked by P0.80 per liter.

Shell will also implement a P0.90 per liter increase for kerosene. Petro Gazz does not carry kerosene.

Other oil companies are expected to follow the same rates and make announcements within the day.

The latest adjustments will take effect at 6 am on Tuesday.

This is the 4th consecutive week that gasoline prices are rising.

With the new rates, year-to-date adjustments now stand at a net increase of P8.80 for gasoline, P6.20 for diesel, and P4.95 for kerosene. – Rappler.com

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.

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