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Oil price hike takes effect today

by UNTV News   |   Posted on Tuesday, April 17th, 2018

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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Fuel price hike expected this week

by UNTV News   |   Posted on Monday, April 16th, 2018

PETROLEUM PRICE HIKE. Oil firms are set to hike prices of petroleum products this week.

MANILA, Philippines — After a minor price rollback last week, oil firms are set to hike prices of petroleum products this week.

According to industry players prices of diesel will go up by P0.60-P0.70 per liter; gasoline by P0.30-P0.40 per liter; and kerosene by almost P1.00.

Increase in fuel prices is driven by prices of petroleum products in the global market. — UNTV News & Rescue

 

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Increase in prices of goods in first 2 months of 2018, not due to TRAIN law – DOF

by UNTV   |   Posted on Tuesday, February 27th, 2018

MANILA, Philippines — The overall inflation rate has reached to almost four percent in January.

This has been noticeably higher from the 3.3% recorded rate in December 2017, based on the Philippine Statistics Authority (PSA) data.

Before the implementation of  Tax Reform for Acceleration and Inclusion (TRAIN) Law, a liter of diesel had an average price of P33. But now, there has been a recorded increase of P9 after the law was implemented in January.

According to economic officials, the TRAIN law is not the cause of the increase in prices of some basic commodities such as oil and meat.

“I think there was a quite an appreciable rise in the price of rice and this also has something to do with the fact that some disarray in the way our rice stocks were handled including importation and whatever buffer we had with NFA [National Food Authority],” said National Economic and Development Authority (NEDA) Secretary Ernesto Pernia.

The price hike, they said can also be attributed to the increase in price of Dubai crude, the peso depreciation and to natural calamities.

“The other food items where we saw accelerated inflation were meat and fish. I suppose when it comes to the meat, it also has something to do with increased prices in corn, and this was also due to typhoons, the lingering effects of the typhoons,” said NEDA Usec. Rosemarie Edilon.

“Yung DTI (Department of Trade and Industry) and DOE (Department of Energy), they have mechanisms naman for the public and inform them kung may nagsasamantala. Tapos ‘yung DTI mayroong regular price monitoring, so far wala naman silang nakikita and ‘yung mga sinabihan nila na medyo mas mataas sa SRP, nag-adjust naman sila downwards,” said Department of Finance (DOF) Usec. Karl Kendrick Chua.

(DTI and DOE have mechanisms for the public and [people may] inform them if there are abusers. DTI also has a regular price monitoring. So far they haven’t seen any [irregularities], and the ones who were called out for having prices higher than the SRP have adjusted their prices downwards.)  — Mai Bermudez | UNTV News & Rescue

 

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Oil firms impose rollback in prices of petroleum products

by UNTV   |   Posted on Tuesday, February 13th, 2018

 

Several oil firms implemented a rollback in prices of petroleum products.

MANILA, Philippines — Several oil firms implemented a rollback in prices of petroleum products.

Shell, Petron, Seaoil and Flying V. implemented a one-peso per liter rollback in their prices of gasoline.

Diesel prices go down by P0.30 per liter, while prices of kerosene also decrease by P0.85  per liter.

Phoenix, Eastern Petroleum, PTT and Unioil also implement a similar rollback in the prices of fuel. — UNTV News & Rescue

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