You might want to gas up on your way home tonight. Some fuel-station chains are expected to implement fuel price increases starting tomorrow. This follows drone attacks on Saudi Aramco oil facilities in the Middle East over the weekend.
Petron, one of the major players in the industry, has released a statement saying it will keep an eye on the situation, and it assures the public that there’s no supply disruption from its end. Nonetheless, it is one of the fuel brands that will increase prices tomorrow, September 17, 2019.
Here’s the compete list of fuel price increases:
According to a report by Bloomberg, the weekend drone strikes knocked out roughly 5% of the world’s oil supply. The Philippine Department of Energy (DOW) released a statement saying it is working closely with the energy sector to monitor the situation as well.
“In light of the recent coordinated drone strikes against Saudi Arabia’s key oil sites on Saturday, we convened an emergency meeting on Sunday afternoon with members of the energy family (DOE–Electric Power Industry Management Bureau; DOE–Oil Industry Management Bureau; NEA; NPC; PNOC; and PNOC-EC) at the DOE’s headquarters in Taguig City,” the statement reads.
“We are seeking to ensure that the energy family will be sufficiently prepared to face the potential impact of this unfortunate incident, if any, on the country.”
Are you planning to fill up before the increase kicks in tomorrow?