DOE prepares for possible effects of Saudi oil site attack

Aileen Cerrudo   •   September 17, 2019   •   470

The Department of Energy (DOE) is preparing for the possible impact of the recent Saudi oil attacks on the Philippines’ oil sector.

Based on the Facebook post on Monday (September 17), the DOE said they already held an emergency meeting at their headquarters in Taguig.

According to the energy department they are closely monitoring the situation about the incident and will keep the public informed of any developments.

READ: Analyst fears disruption of Saudi oil supply could bring ‘dire’ consequences

“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,” their post state.

Reports say the ‘large-scale’ drone attack can disrupt more than 5% of global oil supply.—AAC

Diesel, gasoline prices to go down Tuesday

Robie de Guzman   •   October 28, 2019

MANILA, Philippines – Prices of petroleum products are expected to go down anew this week, marking the second consecutive weekly rollback.

In separate advisories, Phoenix Petroleum Philippines, Pilipinas Shell Petroleum Corp. and Petro Gazz said they are cutting prices of gasoline by P0.45 per liter and diesel by P0.10.

The price cut will take effect on Tuesday at 6:00 a.m.

Cleanfuel stations on Sunday implemented a slash in the price of its gasoline by P0.60 and diesel by P0.20 per liter.

Other oil companies have yet to announce any price adjustment.

Another oil price rollback set next week

Aileen Cerrudo   •   October 4, 2019

Industry players are set to implement an oil price rollback next week due to the increase of fuel supply in oil exporting countries.

Diesel prices are estimated to drop from P0.85-P1.10 per liter while gasoline prices are estimated to drop from P0.75-P1.00 per liter.

For this year, there has been a net increase of P10.04/L in gasoline, P8.04/L in diesel, and P.4.87/L in kerosene.

There have been 14 oil price rollbacks implemented this year.—AAC (with reports from Mon Jocson)

DOE wants oil firms to explain discrepancies in price adjustments

Robie de Guzman   •   October 2, 2019

MANILA, Philippines – The Department of Energy (DOE) has ordered 13 oil firms to explain the discrepancies it noted in the rollback implemented for gasoline and diesel prices.

The DOE said in a statement issued Wednesday it issued show-cause orders “in view of the apparent difference in the oil price rollback calculations” between the department and oil companies.

“Mas mababa po ‘yung rollback nila by about P0.22 for gasoline and about P0.06 for diesel and we want them to explain it,” DOE Assistant Secretary Leonido Pulido said in a separate press briefing in Malacañang.  

“Hindi naman po namin sinasabi na mali sila but we want to give them the opportunity to explain to us bakit po ganun,” he added.

Recipients have until Monday, October 7 to formally respond to the department.

Aside from oil companies, the DOE also asked importers and suppliers of liquefied petroleum gas (LPG) to explain the amount of price hike they implemented, which is higher compared to prices in the international market.

Pulido said the issuance of the show-cause orders is in line with its mandate to protect consumer welfare and ensure fair oil industry practices. – RRD (with details from Correspondent Rosalie Coz)

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