Shell denies “statement” on possible P12.80 price hike for diesel and P8.30 for gasoline next week
By Karl Ocampo, Inquirer Business
Motorists on Tuesday were driven in panic as a post went viral on social media showing that the fuel price increases next week would shoot up by as much as P12.80 per liter.
The viral post, initially published in a Facebook page called “SHELL Philippines PRICE Update,” announced a hefty price hike of P12.80 per liter for diesel and P8.30 per liter for gasoline just as major oil firms implemented the biggest price hike for this year.
The post has already been shared multiple times on different social media platforms, and has garnered thousands of reactions and comments from online users.The false news has been quickly picked up by people online as the raging war in Ukraine has propelled fuel prices to record levels, with Energy Secretary Alfonso Cusi saying that local pump prices may reach P100 per liter if oil prices hit $200 a barrel.
But Pilipinas Shell already released a statement denying that the statement came from them, adding that the oil firm “does not speculate on pricing and did not release any price trending on social media.””It has come to our attention that several Facebook releases are being posted and shared related to the pricing scenario for next week. This is to advise everyone that Pilipinas Shell does not speculate on pricing and did not release any price trending in social media,” it said.
Pilipinas Shell added that it already requested the removal of the unauthorized Facebook account to stop the misinformation online.
Following the post, photos of motorists hoarding fuel in gas stations also went viral. In one photo, a pair of men were seen in a gas station filling up a drum in the back of their pick-up truck with fuel.To evade the escalating prices of fuel, others suggested that motorists use bikes for their daily transportation instead.
Analysts usually predict fuel price movements by the end of the week.Usually, for every dollar change in oil prices, the impact on local pump prices is between P0.27 and P0.30 per liter, while for every peso-dollar fluctuation, the change in fuel rates may be between P0.13 and P0.15 per liter.
The Department of Energy has yet to release a statement regarding queries as to whether it is possible that the price hike next week would reach as high as P12 per liter.Energy Secretary Alfonso Cusi on Tuesday said in a briefing, however, that prices would remain dependent on the movement of the global oil market
