• CHERYL G. CRUZ
Expect fuel prices to go up by more than P1 per liter, effective tomorrow, April 9.
Oil companies announced over the weekend that diesel could increase by P1.50 to P1.70 per liter, gasoline by P1.10 to P1.30/L, and kerosene by P1.40 to PP1.60/L.
The exact adjustments will be known today, April 8.
This will be the fourth straight week of price increases for gasoline, the biggest, so far, at P2.20 per liter, took effect March 26.
On April 2, oil companies implemented a decrease in diesel and kerosene by P0.60 and P1.05 per liter, respectively; while gasoline prices increased by P0.45 a liter.
The Department of Energy Oil Monitor showed that since the start of this year, gasoline logged a per liter net increase of P8.20, and P4.50 for diesel.
The international price of gasoline has increased by nearly $0.20 per barrel, it added.
The DOE, meanwhile, said it has joined forces with the Philippine National Police to strictly enforce Republic Act No. 11592, or the Liquefied Petroleum Gas Industry Regulation Act (LIRA).
As per the memorandum of agreement signed by Energy Secretary Raphael Lotilla and then PNP chief P/Gen Benjamin Acorda, the police, through its Criminal Investigation and Detection Group, is tasked to assist the DOE in the conduct of inspections of LPG facilities, including retailers, refillers, and motor vehicles involved in the transportation of LPG in bulk, or LPG cylinders and cartridges.
“Recognizing the significant risk to both life and property, the government acknowledges the urgent need to ensure that all activities involving the commerce of LPG meet the highest quality and safety standards. Hence, strict monitoring and enforcement is paramount to mitigate risks associated with LPG operations and promote responsible and sustainable practices within the industry,” Lotilla said in a statement.
“The protection and safeguard of the consumers is our main priority. Together with the PNP, we will strictly enforce the LIRA with heightened monitoring and inspections of the industry,” he added.
The DOE said around 15,000 business establishments involved in the trade of LPG nationwide were issued with license to operate, as of end 2023, adding that it continues to accept and process permit applications of qualified LPG participants to stop the proliferation of illegal establishments and prevent irregular, deceitful, and anomalous trade practices. | CGC
