- CHERYL G. CRUZ
The pump prices of petroleum products will continue to decrease, effective Aug. 16, with oil companies announcing a uniform P1.05 rollback per liter of diesel.
There will also be a slight decrease of P0.10 per liter of gasoline, and P0.45 per liter of kerosene.
Oil companies also implemented price decrements of P2.20 per liter of diesel, P2.10/liter of gasoline, and kerosene by P2.55/liter last week.
Since the start of 2022, the Department of Energy Oil Monitor showed a net increase of P30.15 per liter for diesel, P17.55 per liter for gasoline, and P24.75/liter for kerosene.
“Crude prices fell amid heightened fears of recession and demand destruction due to fiscal tightening and rising US-China tensions,” the DOE said, adding that the “downward pressure on the Asian gasoline market was also due to a bearish US gasoline market.”
Meanwhile, the DOE reiterated that generic or uncertified LPG cylinders are prohibited from being refilled, sold, and/or distributed. “Generic LPG cylinders MUST be requalified, marked, and certified before they can be refilled and sold.”
Violators shall be held liable and penalized under the LPG Industry Regulations Act, or Republic Act 11592, signed on Oct. 14, 2021, with strict enforcement of all applicable penalties, a DOE advisory said.
It encourages the public to report illegal activities through the Office of the Oil Industry Management Bureau director, Rino Abad, at 8840-2114 or e-mail at rabad@doe.gov.ph, or contact Loralai Capistrano at 8840-2130, or e-mail lcapistrano@doe.gov.ph./CGC
