- CHERYL G. CRUZ
Oil companies forecast a P12.20 to P12.30 increase per liter of diesel, and P6.80 to P7 hike per liter of gasoline this week, still due to the ongoing Russia-Ukraine war.
This will be the 11th consecutive week that prices of oil and petroleum products will increase, and another record-breaking hike, from last week’s P5.85 per liter additional cost of diesel, and P3.60 per liter of gasoline.
The latest round of price increases would mean that gasoline and diesel would be nearly P80 per liter, effective March 15, as price adjustments usually take effect every Tuesday.
The United Negros Drivers and Operators Center, the local Samahan ng mga Tsuper at Operator Nationwide, and the Federation of Bacolod City Drivers Association earlier agreed to stage a two-day transport strike on March 21 and 22 in Bacolod City and Negros Occidental.
The strike aims to air the groups’ sentiments and frustrations over the unabated increase in the prices of petroleum products, the government’s Public Utility Vehicle Modernization Plan, their demand for a fare hike, and other issues affecting the transport sector.
Malacañang, meanwhile, announced the release, also this week, of fuel subsidy for PUV drivers amid the soaring prices of fuel.
The Department of Budget and Management, in a statement, said there are 377,443 beneficiaries of the Fuel Subsidy Program nationwide, who will be given P6,500 each, or a total of P2.45 billion.
Beneficiaries include drivers of jeepneys, UV Express, mini buses, bus shuttle services, taxis, tricycles, transport network vehicle services, motorcycle taxis, and delivery services.
The beneficiaries may claim their financial assistance, through cash cards, from the Land Bank of the Philippines, DBM spokesperson Rolando Toledo said. | CGC
