Big-time oil price hike slated



Gas up before March 26 as oil companies announced big-time fuel price increases this Holy Week.

Diesel could increase by P1.30 to P1.50 per liter, gasoline by P2.10 to P2.30 per liter, and kerosene by P1.20 to P1.50/L.

The exact adjustments will be known today, March 25.

The big-time hike followed a negligible 10-centavo per liter price adjustments for diesel and gasoline March 19. There was no movement for kerosene.

Department of Energy Secretary Raphael Lotilla, meanwhile, called on oil companies to mobilize assistance along national highways, major roads, tollways, and areas leading to pilgrimage sites, as motorists embark on Holy Week retreats and summer vacations.

He said the DOE recognizes the overall impact of oil prices in the international market on the motoring public.

“We can compensate them with efficient services by ensuring that service stations are well-stocked, and the staff can handle the increased volume of cars, including offering extended hours, if necessary,” Lotilla told oil companies in a statement.

Noting that major roads and highways will have more vehicles in the coming days, he said that oil companies may engage in community outreach programs, including partnerships with car manufacturing companies for road safety campaigns, and offer support to local authorities for traffic management by providing information on road conditions, alternate routes, and emergency contacts.

The DOE Oil Monitor showed that since the start of this year, there was a net increase of P3.70/liter for diesel, and P5.55/liter for gasoline. Kerosene, meanwhile, logged a net decrease of P0.25/liter. | CGC