Fuel Price Update, August 20, 2024 – Bad news, price increase incoming
Last week we had a significant fuel price rollback, and that was good. However, following political unrest as well as the looming threat of a global recession, tomorrow’s gasoline and diesel prices are set for an increase. The hike tomorrow, August 20, 2024, will see the prices of the former go up by PHP 1.00USD 0.02INR 1EUR 0.02CNY 0.12 per liter, and the latter by PHP 1.20USD 0.02INR 2EUR 0.02CNY 0.15. Time to gas up, everyone!
Fuel prices get another price hike tomorrow, breaking the rollback streak
Photo: Seaoil
Yes, we’re in for another week of an increase in the price of gas and diesel. The three-week rollback streak was most welcome, indeed, but the market remains volatile. As such, we can expect all brands and their stations to reflect higher prices tomorrow, with gas becoming more expensive by PHP 1.00USD 0.02INR 1EUR 0.02CNY 0.12 per liter and diesel by PHP 1.20USD 0.02INR 2EUR 0.02CNY 0.15.
Photo: Petro Gazz
The bigger players including Shell, Caltex, and Petron will update their pumps to reflect the new prices at 6:00 AM. Unioil, Seaoil, and Petro Gazz as well as most of the other brands will do so at the same time. Cleanfuel will, as usual, give its customers a bit more time to purchase their fuel at the same prices as last week’s and will update to show the new prices later in the day at 4:01 PM.
Photo: Cleanfuel
Day by day, with the slew of fuel price increases, the option of electrification and hybrid vehicles seem to keep getting more attractive. With technologies that seem to be getting better such as Honda’s e:HEV, for example, as well as almost all of the other vehicle manufacturers moving towards alternative sources of power, now is a good time as any to have a good look at what we can use aside from gas and diesel. Fuel prices will remain on a seesaw, and it’s best that we simply be as practical as we can when it comes to our use of our vehicles.
Have a good week ahead, everyone!
