Gasoline Price Hike

Tuesday, May 03, 2011


MANILA, Philippines — The “Big Three” oil companies — Pilipinas Shell, Petron Corp., and Chevron Philippines (formerly Caltex) — jacked up their prices of gasoline and kerosene by the same increments Tuesday while retaining the price of diesel.
Advisories sent by the oil giants at different times Tuesday bared increases amounting to P1.40 a liter on premium and unleaded gasoline; P1 a liter on regular gasoline; and P0.30 a liter on kerosene.
Shell and Chevron implemented the price hike at 6 a.m. Tuesday while Petron said its adjustment took effect at noon. According to the trio, their price adjustment was due to “increases in the international product prices.”
The “Big Three” sells at least 70 percent of all petroleum products in the local oil industry.
Eastern Petroleum Philippines, an independent oil firm mainly operating in the cities of Pasig, Caloocan similar hike on gasoline and kerosene at 12:01 a.m. Wednesday.
“This is to reflect weekly changes in international price as reflected in MOPS (Means of Platt Singapore),” said Fernando Martinez, Eastern Petroleum chief executive officer (CEO).
The price of diesel, the lifeblood of the jeepney-dominated transport sector, was untouched in the latest wave of fuel adjustment.
With Tuesday’s hike, the average prices of fuel in Metro Manila are now as follows: diesel, P47.50 a liter; gasoline (unleaded) P57.50 a liter; and kerosene, P56 a liter.
While the rise in diesel price has somewhat abated in the past couple of weeks, those of gasoline have continued to surge. The price increases on gasoline this week was the sixth to hit consumers since the tail end of March.
Fuel subsidy
Last Monday, the Department of Energy (DoE) began the distribution of Public Transportation Assistance (PTA) cards to jeepney drivers and operators in Metro Manila. Acting like prepaid cards, the PTA cards can be exchanged for fuel discounts at gas stations under the government’s fuel subsidy program.
Tuesday, it was the turn of the Department of the Interior and Local Government (DILG) yesterday started to work on the distribution of P150 million worth of fuel subsidy to some 990,514 tricycle drivers, in line with the government’s Pantawid Pasada program aimed at subsidizing a portion of their average fuel consumption.
“We hope that through this program, we will somehow be able to help tricycle owners in bearing the brunt of the oil price increases,” said DILG Secretary Jesse M. Robredo. The DILG has already distributed the money to the regional offices involved, and assured that within a span of one to two weeks, tricycle franchise owners can already claim their fuel subsidies.
Robredo added that out of the 990,514 tricycle franchise owners who stand to benefit from the program, 27 percent or 268,949 are from Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon), 22 percent or 221,392 are from Central Luzon, while 10.5 percent or 103,986 are from Metro Manila.
The Pantawid Pasada program is part of the Public Transport Assistance Program (PTAP) of President Benigno S. Aquino III. PTAP was created under Executive Order No. 32, series of 2011 issued by the Office of the President. It was created to soften the blow of the high fuel prices on the marginalized sectors of society.
Stagger your hikes, DoE tells LPG sellers
Hike your cooking gas prices by installment.
This was the appeal of the Department of Energy (DoE) to sellers of cooking gas as the Liquefied Petroleum Gas Marketers Association (LPGMA) tries to determine the suitable hike for its product prices this month.
DoE Undersecretary Jose Layug Jr. said he made the plea to LPG peddlers during a meeting with them last Monday. “We asked them if they could ‘stagger’ their price increases,” he said.
Layug said the meeting was called specifically to forward the appeal to cooking gas retailers saying the DoE anticipates more price increases on the sensitive commodity later this month.

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