Pump prices set to go down by up to P2.50/L this week

admin   •   November 12, 2018   •   2167

 

MANILA, Philippines — A big-time roll back in petroleum prices is expected to take effect on Tuesday (November 12).

Oil industry players say the price of gasoline will go down by up to P 2.50 per liter; diesel by  P2.00 and kerosene by P1.85.

The hefty price cut will be implemented to reflect the slump in oil prices in the world market.

Data from the Department of Energy (DOE) show the net decrease for gasoline has reached more than P7.00 per liter from October 15 up to November 12; more than P5.00 for diesel and more than P4.00 per liter for kerosene.

Since January until October this year, the net increase for gasoline reached more than P9.00 per liter, almost P12.00 for diesel and more than P 11.00 for kerosene.

Jeepney operators have expressed readiness to lower minimum fares back to P9.00 from the current P10.00.

That is, if petroleum prices continue its downward slope in the coming weeks and if the LTFRB returns the fee they collected from jeepney operators who secured updated fare matrices.

“Hindi nila napakinabangan ng malaki yung fare increase and yet nakasingil na ng malaki yung LTFRB. In fact, kaya gusto na natin ipaalis ang malaking bayad na yan eh parang walang nalalamangan whether magtaas o magbaba ng pasahe,” said Piston President George San Mateo.

Many drivers have not acquired a copy of the fare matrix because according to them, it costs as much as their daily earnings plus all their other household expenses.

“Dapat sana kung may bayad man hindi ganung kalaki kasi malaking kabawasan rin samin yun kahit kalahati siguro pwede na tsaka yung proseso mabilis,” said Cesar Tupaz, jeepney driver.

“Eh nagtataka rin ako akala ko nga sinkwenta lang eh nabigla ako nung sinabi ng mga kumuha 600 binayad nila tapos napakarami kumukuha pipila ka pa dun,” said Joselito Villamor jeepney driver.

For its part, the LTFRB says a fare rollback is possible depending on the movement of oil prices in the world market. — Mon Jocson | UNTV News & Rescue

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Oil price rollback set next week

Aileen Cerrudo   •   August 9, 2019

Oil companies are set to implement an oil price rollback starting next week.

According to industry players, there will be a possible P1.20 per liter rollback in diesel prices while P0.50 per liter rollback in gasoline prices.

The rollback is due to the fuel price movement in the world market.

Meanwhile, on Wednesday (Aug 7) prices of auto LPG also dropped by P1.00 per liter.—AAC (with reports from Mon Jocson)

Oil firms announce big-time gasoline price slash

Robie de Guzman   •   May 13, 2019

Motorists can expect lower prices of gasoline and kerosene this week.

Local oil industry players have announced that the price of gasoline will be reduced by P1.25 per liter while kerosene will be slashed by P0.30 a liter.

Diesel will have no price movement.

The price rollback will take effect on Tuesday (May 14) but some oil companies have opted to implement the price cut early.

The oil price slash was imposed to reflect the prices in the world market.

Oil price hike to strike again this week

admin   •   January 28, 2019


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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