Oil prices up for 3rd straight week
For the third consecutive week, oil companies implemented another round of increases, which took effect on Tuesday, July 2.
Based on advisories from Seaoil, Shell Pilipinas and Petro Gazz, the following figures are the per-liter increases for their products: 65 centavos for diesel, 35 centavos for kerosene, and 95 centavos for gasoline.
In an earlier statement, Rodela Romero, director of the Department of Energy’s (DOE) Oil Industry Management Bureau, said that crude oil prices continued to advance due to ongoing geopolitical tensions, including Ukraine’s drone attack against Russia.
She also attributed the continuous price swelling to “the production restriction of Opec (Organization of the Petroleum Exporting Countries) and the forecast for the peak summer season demand starting [in the] third [quarter] of this year.”
Data from the DOE showed that as of June 25, the per-liter adjustments of fuel products already reached P1.40 for gasoline, P1.75 for diesel, and P1.90 for kerosene. Liquefied petroleum gas products, meanwhile, also rose this month.
Solane and Petron said that LPG prices went up by 55 centavos per kilogram or about P6 per 11-kg cylinder.
“This reflects the international contract price of LPG for the month of July,” Petron said. —LISBET K. ESMAEL
Marcos declares July 2 a holiday in Pasig
President Marcos has declared July 2 a holiday in Pasig City.
In Proclamation 612, he declared Tuesday a special nonworking day in the city to allow its residents to mark Pasig’s 451st founding anniversary or “Araw ng Pasig.”
Earlier, he also declared July 1 a nonworking holiday in San Carlos City in Negros Occidental in Proclamation 611 to mark the celebration of its charter anniversary.
“It is but fitting and proper that the people of the [cities of Pasig and San Carlos] be given full opportunity to participate in the occasion and enjoy the celebration,” Mr. Marcos said.
Both proclamations were signed by Executive Secretary Lucas Bersamin by the authority of the President, according to the Presidential Communications Office. —MELVIN GASCON
