Latest fuel price hikes seen easing
Another round of fuel price hikes is expected on Tuesday, but these are only about half the increases a week earlier, according to the Department of Energy (DOE), which cited a relative calm in the global oil market.
Also on Monday, Malacañang announced a new round of cash aid for public utility vehicle (PUV) drivers, even as transport groups threatened anew to go on strike.
Energy Secretary Sharon Garin said per-liter increases were anticipated to reach P6.47 for gasoline, P11.88 for diesel, and P13.66 for kerosene.
These figures, however, are only about half of the price increases imposed during the week of March 17 to 23, which reached as high as P16.60 for gasoline and P23.90 for diesel.
Fuel prices had been actually on an uptrend since January, but began to spike considerably beginning March 10, more than a week after the Iran war broke out on Feb. 28.
“It (fuel prices) only went up to that point, [it’s] because the international market calmed down,” Garin said in a radio interview on Monday. “So in the last few days, it hasn’t been spiking as much.”
But in an advisory, Jetti Philippines said it would increase diesel and gasoline products by P18 and P8 per liter, respectively. No other oil company has released its official price adjustments, as of Monday night.
Steepest climb
Garin earlier noted that diesel prices in Metro Manila had already risen by as much as P115 per liter.
But some gas stations in provinces near the capital region, such as Laguna, saw even higher pump prices, reaching P119 a liter.
Based on the DOE’s price monitoring in the week of March 17 to 23, retail prices in Metro Manila ranged from P92 to P126.20 for diesel; P74.60 to P100.40 for gasoline; and P99.99 to P143.79 for kerosene.
Garin noted that the Philippines had the largest climb in pump prices since the Iran war broke out.
But she said this was due to other markets being able to subsidize fuel prices, which the government cannot do because of the oil deregulation law (Republic Act No. 8479).
The energy chief also said other countries have more robust industries.
Petron Corp., led by billionaire Ramon Ang, is the country’s only oil refiner. Its Bataan refinery can produce as much as 180,000 barrels per day and supplies about 40 percent of fuel requirements nationwide.
Transport strike
Meanwhile, transport alliance “No to Oil Price Hike” Coalition led by Piston said it would go on strike on March 26 and 27.
“Before, 70 national roads [were affected], this will increase because we are now with the different modes of public transport who are also ready to conduct mass up areas along their routes,” Piston president Mody Floranda said in a news conference that was also joined by Kariders and Kagulong, composed of motorcycle taxi and delivery riders; and Bus Employees Association of the Philippines.
The protesters will also gather at Quezon City’s Welcome Rotunda on Friday afternoon before marching to Mendiola Bridge outside Malacañang in Manila.
They are calling for the suspension of the value-added tax and excise on fuel, a rollback to P55 per liter, and fare hikes across all modes of transportation, among other demands.
More cash aid
The Palace also on Monday announced another tranche of cash assistance to PUV drivers, following complaints that the initial P5,000 still being distributed by the Department of Social Welfare and Development (DSWD) is not enough to meet their needs.
“According to [Social Welfare] Secretary [Rex] Gatchalian, and also upon President Marcos’ order … [the] DSWD will continue to release cash assistance to affected [PUV] drivers and this will be done in tranches,” Palace press officer Claire Castro said.
Tricycle drivers were the first to receive the initial P5,000 on March 17. The succeeding disbursements will be on March 24 for transport network vehicle services drivers, March 25 for jeepney drivers, March 26 and 27 for delivery riders, and March 28 for motorcycle taxi drivers. —WITH A REPORT FROM LUISA CABATO
