Manila Bulletin
Business
Consumers brace for big time hikes this week; P1.20/liter for diesel; P0.95/liter for gasoline
Business
Consumers brace for big time hikes this week; P1.20/liter for diesel; P0.95/liter for gasoline
Consumers brace for big time hikes this week; P1.20/liter for diesel; P0.95/liter for gasoline
Published Jun 30, 2020 12:46 am
By Myrna Velasco
Filipino consumers will be pinched anew big time on the pockets, as the price of diesel at the pumps will rise by a burdensome P1.20per liter this week; and gasoline by equally significant P0.95 per liter.
(Mark Balmores / MANILA BULLETIN)
The oil companies similarly indicated that the price of kerosene, a commodity used by many Filipino households especially in the rural areas and also a base for aviation fuel, will also go up by P0.95 per liter this week.
The industry players’ pricing adjustments will track the Tuesday routine, effective 6:00am on September 4. As of press time, the oil companies that already sent price movement notices to the media had been Pilipinas Shell Petroleum Corporation and Petro Gazz, while the rest of the oil firms are anticipated to follow.
This week’s large-scale price hikes followed weeks of ‘token adjustments’ that consumers had seen at the pumps – more or less due to more steady prices in the world market.
But international trading for oil commodities in recent days took wild upswing, hence, the sizeable prices to be experienced at the Philippine pumps.
Brent crude reached an average of US$77.47 per barrel as of last week’s close of trading; while the basket of crudes traded by members of the Organization of the Petroleum Exporting Countries (OPEC) hovered at US$75.72 per barrel.
In a related development, Eastern Petroleum Corporation announced on Sunday that it increased the price of its EC Gas liquefied petroleum gas (LPG) brand by a leaner P1.80 per kilogram or a total of P19.80 for the 11-kilogram standard tank.
Relative to LPG trade in the Philippines, Energy Secretary Alfonso G. Cusi has cautioned the public “on the emergence of illegally LPG-refilled butane canisters that circulate in provincial markets.”
That had been based on the outcome of the Department of Energy’s focused inspections in Batangas and several areas in Visayas region recently.
Cusi explained that “the buy-bust operations are part of the continuing efforts to eliminate the proliferation of LPG-refilled butane canisters in the provinces,” and in line with that, he called on the public “to refrain from patronizing said products.”
The energy chief stressed that “LPG-refilled butane canisters are extremely dangerous, especially so since butane canisters should only be used once.”
He expounded that “refilling these tin canisters with LPG could cause fire and also greatly endangers the lives of our consumers.”
Cusi emphasized that a number of fire incidents have been caused “by leaking canisters refilled with LPG.”
In the latest Visayas spot checks undertaken by the department, it was reported that three individuals were arrested for violating Batasang Pambansa 33 (as amended by Presidential Decree 1865), for selling and possessing 638 illegally refilled and empty canisters.
The DOE Visayas Field Office further indicated that in Cebu province alone, “more than 30 individuals have already been arrested after being caught trading LPG-refilled butane canisters.” (MMV)
(Mark Balmores / MANILA BULLETIN)
The oil companies similarly indicated that the price of kerosene, a commodity used by many Filipino households especially in the rural areas and also a base for aviation fuel, will also go up by P0.95 per liter this week.
The industry players’ pricing adjustments will track the Tuesday routine, effective 6:00am on September 4. As of press time, the oil companies that already sent price movement notices to the media had been Pilipinas Shell Petroleum Corporation and Petro Gazz, while the rest of the oil firms are anticipated to follow.
This week’s large-scale price hikes followed weeks of ‘token adjustments’ that consumers had seen at the pumps – more or less due to more steady prices in the world market.
But international trading for oil commodities in recent days took wild upswing, hence, the sizeable prices to be experienced at the Philippine pumps.
Brent crude reached an average of US$77.47 per barrel as of last week’s close of trading; while the basket of crudes traded by members of the Organization of the Petroleum Exporting Countries (OPEC) hovered at US$75.72 per barrel.
In a related development, Eastern Petroleum Corporation announced on Sunday that it increased the price of its EC Gas liquefied petroleum gas (LPG) brand by a leaner P1.80 per kilogram or a total of P19.80 for the 11-kilogram standard tank.
Relative to LPG trade in the Philippines, Energy Secretary Alfonso G. Cusi has cautioned the public “on the emergence of illegally LPG-refilled butane canisters that circulate in provincial markets.”
That had been based on the outcome of the Department of Energy’s focused inspections in Batangas and several areas in Visayas region recently.
Cusi explained that “the buy-bust operations are part of the continuing efforts to eliminate the proliferation of LPG-refilled butane canisters in the provinces,” and in line with that, he called on the public “to refrain from patronizing said products.”
The energy chief stressed that “LPG-refilled butane canisters are extremely dangerous, especially so since butane canisters should only be used once.”
He expounded that “refilling these tin canisters with LPG could cause fire and also greatly endangers the lives of our consumers.”
Cusi emphasized that a number of fire incidents have been caused “by leaking canisters refilled with LPG.”
In the latest Visayas spot checks undertaken by the department, it was reported that three individuals were arrested for violating Batasang Pambansa 33 (as amended by Presidential Decree 1865), for selling and possessing 638 illegally refilled and empty canisters.
The DOE Visayas Field Office further indicated that in Cebu province alone, “more than 30 individuals have already been arrested after being caught trading LPG-refilled butane canisters.” (MMV)