The Bacolod City government has called on fuel retailers March 9 to strictly comply with oil price regulations as global market pressures continue to affect fuel costs.
This as the City Treasurer’s Office (CTO) started monitoring gasoline stations across Bacolod to ensure compliance, following announcement from the Department of Energy (DOE) on significant fuel price increases this week.
City administrator, Atty. Mark Mayo, urged business owners to conduct their operations fairly and responsibly, particularly with the ongoing conflict in the Middle East.
“We are appealing to business owners to be just and fair in conducting their operations. All activities must remain within the bounds of law,” Mayo stressed.
He said the city government will submit monitoring reports to the DOE that has the authority to impose sanctions on establishments found violating price regulations.
Mayor Greg Gasataya has directed the regular monitoring of gasoline stations, and stressed that fuel retailers must not implement price increases before the scheduled adjustment date and must avoid hoarding, which is considered illegal, the city said.
Four gasoline stations were initially inspected, and one was observed to have already increased its prices ahead of the scheduled adjustment today.
Ronald Genciane of LKB OPC explained that the station implemented an early P3 per liter price adjustment due to increases from their supplier.
“We adjusted our prices because our supplier has already increased its rates. We do not have our own fuel depot, and our business cannot operate without making these adjustments,” Genciane said.
The price of premium at LKB OPC stood at P70.50, regular P70, and diesel P75. At Shell, V-Power diesel costs P71.24 per liter, fuel save gasoline P61.24, fuel save diesel P62.74, and V-Power gasoline at P68.65/L; Seaoil, exceed diesel P63.25, extreme U gasoline P60.85, and extreme 95 gasoline P61.05; and for Petron, diesel max P61.45, turbo diesel P63.45, extra advance P59.25, and XCS at P60.25 per liter.
Motorist Jan Paul Liza shared that the continued rise in fuel prices may force him to commute, instead of drive his vehicle. “This is no longer a normal increase. Fuel used to be cheaper, but with continuous price hikes, I might have no choice but to commute because of vehicle maintenance costs and expensive fuel.” ||
