Que horror! Massive fuel price increase today, gas up by PHP 2.10, diesel PHP 3.50

As we reported yesterday, fuel prices were set to go up today. Estimates were between PHP 1.90-2.10 for gasoline and PHP 3.20-3.50 for diesel. Both fuel products have gone to the maximum end of the said estimates, and today’s hike is going to be very painful for a lot of motor vehicle owners.

3rd fuel price hike in a row, today is the highest

Fuel Price Hike August 1 2023 Inline 01 Min

Photo: Seaoil

At least we can say that the estimates were pretty spot on. Though all of us would rather have had the fuel prices take the lowest estimate, there’s not much we can do about it, sadly. Today, gasoline prices have gone up by PHP 2.10 per liter, and diesel sees a staggering PHP 3.50 increase. Yes, we’re all going to feel that.

Fuel Price Hike August 1 2023 Inline 02 Min

Photo: Petro Gazz

Most if not all major players, including the “smaller” brands such as Petron, Unioil, Jetti, Petro Gazz, Seaoil, and Shell have already updated their pump prices as of 6:00 AM. Caltex, on the other hand, applied the price adjustments at 12:01 AM.

Cleanfuel, as its common practice, will update pump prices later in the day at 4:01 PM. That will give its patrons a little bit more time to get their tanks topped up at last week’s prices.

Fuel Price Hike August 1 2023 Inline 03 Min

Photo: Cleanfuel

We had an inkling last week that this week will see another hike, and we are sadly correct. With the consistent rains, traffic is going to get a lot worse during the week, and with that, more fuel will inevitably be burned by everyone. We hope our advisory yesterday gave all of you, our readers, some time to fill up before today’s not-so-good news.

As such, here are a few fuel-saving tips that we think may help you get the best out of your refuel this week. We’re saying it again: at this point, every centavo and every drop of fuel counts. Who knows what we have in store for us as far as fuel prices go next week?

Mikko Juangco
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