OIL FIRMS RAISE PRICES FOR 3RD STRAIGHT TIME
FOR the third consecutive time, oil firms announced another increase in prices of petroleum products for this week.
In separate advisories, firms said the price of diesel will increase by 40 centavos per liter, gasoline by 10 centavos per liter, and kerosene by 15 per liter effective Tuesday.
Caltex will apply this week’s upward price adjustment on Tuesday at 12:01 a.m. Flying V, Petro Gazz, Phoenix Petroleum, Pilipinas Shell, PTT Philippines, Seaoil, and Total will follow suit at 6 a.m.
Last week, industry players jacked up the price of diesel up by P2.30 per liter, gasoline by P1.40 per liter, and kerosene by P2 per liter.
Then, in the first week of January, companies raised the price of diesel by 70 centavos per liter, gasoline by 80 centavos per liter, and kerosene by 40 centavos per liter.
In a previous statement, the Department of Energy (DoE) reported that 1,639 of the 8,630 retail outlets across the country are already applying higher fuel excise taxes as of January 17.
This, as teams from the DoE’s Oil Industry Management Bureau visited 22 retail stations across Quezon City, Caloocan and Malabon which have increased the excise tax on fuel products earlier this month.
It also visited 57 retail outlets in Luzon, seven in Visayas, and 29 in Mindanao.
“We are vigilantly monitoring the implementation of the Train Law so that our consumers will be amply protected,” Energy Secretary Alfonso Cusi said in a statement.