• CHERYL G. CRUZ
After more than a month of rollbacks, the pump prices of petroleum products will increase this week, oil companies announced over the weekend.
Diesel will increase by P1 to P1.30 per liter, gasoline by P0.80 to P1.10/L, and kerosene by P1 to P1.30/L.
Final adjustments will be known today, Aug. 19, as oil companies regularly implement movements every Tuesday.
The Department of Energy said the risk of an expanding conflict in the Middle East, among others, is propping up prices. “Tension in the Middle East remain in focus on Iran’s pledge to respond to Israel’s killing of a Hamas military commander, despite international attempts of diplomatic solution to the ongoing conflicts.”
“The Asian market remains stable to weak, amid expectations of fresh resupply from the Arab Gulf and reduced outflows from the region. Additionally, the third batch of export quota from China likewise may potentially increase supply in the region,” the DOE added.
Last week, oil companies implemented a decrease of P2.45/liter in gasoline, P1.90/liter in diesel, and P2.40/liter in kerosene.
The recent adjustment resulted in a net increase of P7.05/liter and P4.75/liter, respectively, for gasoline and diesel, and net decrease of P3.15/liter for kerosene, since the start of this year.
Personnel of the DOE Visayas Field Office, meanwhile, conducted a thorough survey and validation of petroleum products sold in southern Negros Occidental, from Aug. 12-16.
The activity is part of ongoing efforts to ensure the safety and quality of petroleum products sold in the market.
The DOE team, led by Engr. Jose Rey Maleza, chief of the DOE-Visayas Energy Industry Management Division, also paid a courtesy call on Kabankalan City Mayor Benjie Miranda and City Administrator, Atty. Maclord Zafra, at the City Hall, where a temporary laboratory was set up to facilitate the testing and validation of petroleum products, the city said.
“We urge all retailers and distributors to cooperate with our team and provide access to their facilities and products,” Maleza said in a press release, and urged the public to report suspicious or substandard petroleum products to the DOE or local authorities. | CGC
