GASOLINE PUMP PRICES UP FOR 6TH STRAIGHT WEEK; DIESEL, KEROSENE DOWN
Pump prices of gasoline will be hiked for the sixth straight week on Tuesday, while those of diesel and kerosene will be rolled back.
In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. said they will increase prices per liter of gasoline by P0.55, while reducing those of diesel by P0.95, and kerosene by P1.10.
Cleanfuel, Petro Gazz, and PTT Philippines Corp will implement the same changes, excluding kerosene which they do not carry.
The adjustments will take effect at 6 a.m. on Tuesday, April 22, for all the firms except for Cleanfuel which will implement the changes at 12:01 a.m. the same day.
Other firms have yet to make similar announcements for the week.
The Department of Energy’s Oil Industry Management Bureau (DOE-OIMB) earlier projected an increase for gasoline and rollbacks for both diesel and kerosene, on the back of the lingering factors of geopolitical tensions, and the unexpected reduction of fuel demand in big economies.
DOE-OIMB director Rino Abad, however, said there is no assurance that the rollback in some petroleum products will continue in the next weeks to come.
“Hindi pa natin masigurado kung ito’y magtu-tuloy tuloy na rollback. Hindi natin inaasahan ito dahil ang trend talaga dahil sa mga events na ‘to—production cut ng OPEC, pagkakaron ng conflict doon sa Middle East. Hindi natin inaasahan na masiguro na magtutuloy-tuloy ang rollback,” Abad said in a public briefing.
(We’re not yet sure if this rollback will continue. We did not even expect the rollback because of what’s happening lately—-the production cut by OPEC, and the current conflict in the Middle East. We don’t expect that the rollback will continue.)
Firms last week hiked prices per liter of gasoline by P0.40, diesel by P0.958, and kerosene by P0.85 as of April 16, 2024.
Latest data available from the Department of Energy (DOE) indicates that year-to-date net adjustments stood at a net increase of P9.70 per liter for gasoline, P7.00 per liter for diesel, and P2.25 per liter for kerosene as of April 16, 2024.
Abad thus reminded the beneficiaries of the fuel subsidy program both in the public transport and agriculture sectors to avail of the said subsidy by coordinating with the Land Transportation Franchising and Regulatory Board and Department of Agriculture, respectively.
“Itong subsidy program ng government, fuel discount program ng mga oil companies, at saka ‘yung pagli-limita kung kakayanin na mag-public transport na lang ho ang ating mga kababayan—lahat ‘yan ay makakatulong na mabawsan ang ating gastusin sa fuel,” he added.
(The subsidy program of the government, fuel discount program of the oil companies, and the use of the public transport system will all help reduce our fuel expenses.) — RSJ, GMA Integrated News
This article Gasoline pump prices up for 6th straight week; diesel, kerosene down was originally published in GMA News Online.
2024-04-22T03:11:10Z dg43tfdfdgfd