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Oil price hike takes effect today

by admin   |   Posted on Tuesday, 17 April 2018 12:09 PM

OIL PRICE HIKE: The price increase in gasoline and diesel products takes effect today while the price of kerosene products remains the same.

MANILA, Philippines — Oil price hike on petrol products is now in effect.

Effective 6 a.m. today, Flying V, Petron, Shell and SEAOIL increased their price of gasoline by 35 centavos per liter and 80 centavos for a liter of kerosene.

The same increase takes effect on gasoline and diesel products of Eastern Petroleum, Total, PTT Philippines and Phoenix Petroleum, though their price of kerosene remains the same.

The increase in the price of oil is based on the price of petroleum products in the world market.  — UNTV News & Rescue

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DTI approves commodity price hike

by UNTV News   |   Posted on Monday, 25 February 2019 07:28 PM

The Department of Trade and Industry (DTI) has released a new list of suggested retail price where several prices of goods like milk, sardines and condiments went up.

Milk prices went up by P0.50 to P1.50 including condensed milk, evaporated milk and powdered milk. A well-known milk brand, from its previous price of P57, had over a six-peso increase.

There is also a surge of P0.40 to P1.75 in prices of sardines.

Iodized salt increased by P0.50 to P2.00 while prices of vinegar, soy sauce, and fish sauce went up by P1.00.

DTI Undersecretary Ruth Castelo said the said price hike on several products is due to the pending applications last year.

According to the department, they based their decision on the increase of manufacturing cost, raw materials, packaging as well as labor payment and oil prices.

Pinipilit natin talaga ibaba ang presyo as much as possible nga kung pwede mag-rollback but because of the three-month hold off period hindi tayo maka-rollback ng presyo…DTI will make sure na kung hindi justified ang reasons nila for increasing their prices hindi natin ipapa-increase talaga,” she said.

(We are trying to lower prices as much as possible. We want to rollback if possible but because of the three-month hold off period we cannot do so. DTI will make sure we will not increase prices if their reasons are not justified.)

The DTI said that 56 products have been approved for a price increase while prices of around 200 items will remain unchanged.

Some consumers are complaining of having to readjust their budget again.

“Mayadong mabigat na para sa budget sa araw-araw, iyong isang kain namin bali P200 na, tapos iba pa sa gabi, mahirap po para sa amin,” according to consumer, Vicky Marin.

(It is too much for our daily budget, one meal costs P200 already and it is different from dinner. It is difficult for us.)

“Mataas na iyong 100 grams, iyon lang ang budget kapag walang pera wala akong pambili ng malaki kasi syempre ang hirap ng buhay, mahirap pero wala tayong magawa,” another consumer, Aling Marilou, said.

(100 grams is high, that is our budget. With no money, I cannot buy. Life is difficult but we cannot do anything about it.)

For consumers to be able to make the most out of their budget, they can make a list of the things they need to buy and go to the market at a time where there is not much crowd to be able to find low-priced products.

It is better to buy in bulk to save money because we also pay for product packaging. Always keep on the lookout for sales or promos. — Aileen Cerrudo (with reports from Joan Nano)

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Oil price hike to strike again this week

by admin   |   Posted on Monday, 28 January 2019 02:33 PM


MANILA, Philippines —  Oil companies are set to implement another oil price hike this week.

Oil industry players confirmed a possible increase of P0.50 to P0.60 per liter of diesel and kerosene while gasoline prices may go up by P0.20 to P0.30 per liter.

This is the fourth consecutive week of price hikes on petroleum products.

The oil price hike is due to the movement of oil prices in international market. — UNTV News & Rescue

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Prevailing prices of basic commodities must be lower – Consumer group

by admin   |   Posted on Thursday, 3 January 2019 10:35 AM

 

MANILA, Philippines — There are still no changes in the prices of prime commodities in wet markets.

According to sellers and consumers, the price of basic commodities is at a low level.

At Pritil Market in Tondo Manila, sales declined on the second day of 2019.

“May stock pa sila ng pagkain yung mga binili nila,” said vendor, Alvina Mercado.

Vendors said suppliers have yet to advise on the price increase.

“Ganun pa rin, hindi nagbago ang presyo,” said Aileen Santiago.

The price of chayote (sayote) is still affordable at P30.00 per kilo;eggplant, garlic, and carrots at P80.00 per kilo;cabbage, pechay, baguio beans, onions, tomatoes and potatoes at P60.00 per kilo; ginger at P70 per kilo and upo at P25 per kilo.

Tilapia is sold at P100 per kilo; galunggong at P150 per kilo;banggus at 100 per piece or P200 per kilo; chicken at P150 per kilo while pork is at P240 per kilo.

Consumers are pleased with the low prices of basic commodities on the first day of 2019.

However, a consumer group believes it can still go lower than its prevailing prices.

Laban Konsyumer Group said that farm gate prices have decreased due to drop in prices of petroleum products.

“Hindi lamang dapat stable ang presyo ng pangunahing bilihin. Dapat ito mababa pa dahil ang farm gate price ng gulay at manok at baboy ay mababa. Yung mababang presyo ng farm gate prices hindi agad mag-reflect sa retail kaya dapat tutukan talaga ng monitoring at enforcement,” said Laban Konsyumer President Vic Dimagiba.

Meanwhile, according to economist Wilson Lee Flores, the prices of commodities will be stable in the first month of 2019.

However, the economic effects must be guarded due to the trade war between the United States and China.

“May kaunting epekto sa paghina ng ekonomiya ng buong mundo pero ang magandang balita ang Pilipinas at Asya malakas pa rin ang ekonomiya natin,” said the economist.

Flores said that public would not be surprised with the implementation of the excise tax this year because it already started in 2018.  — Mon Jocson | UNTV News & Rescue

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