• CHERYL G. CRUZ
After three consecutive weeks of rollbacks, the pump prices of petroleum products will increase this last week of September, oil companies announced over the weekend.
Expect the prices of gasoline to increase by P0.80 to P1.00 per liter, diesel by P0.10 to P0.30/L, and kerosene by P0.10 to P0.20/L. The exact adjustments will be known today, Sept. 23.
The Department of Energy said “Asian gasoline market rose as Singapore exports to Mexico skyrocketed 102.81 percent…driven by disruptions at US refineries amid tropical storm Francine.”
But regional supplies remained sufficient, the DOE said, adding that projected global oil demand could grow by two million barrels per day, as per the Sept. 10 OPEC Oil Market Report.
On Sept. 17, oil companies in the Philippines implemented a decrease of P1.00/liter for gasoline, P1.30/liter for diesel, and P1.65/liter for kerosene.
As per the DOE Oil Monitor, the prices of gasoline and diesel logged a net increase of P4.85/liter and P1.75/liter, respectively, while kerosene has total net decrease of P6.35/liter, since the start of this year, as international oil prices remain volatile.
Meanwhile, the DOE said there is an ongoing price freeze for household liquefied petroleum gas (LPG) in cylinders 11-kilogram and below, and kerosene products in San Enrique, Negros Occidental.
The price freeze will remain valid for 15 days, or until Sept. 30, after the town declared a state of calamity (SOC) due to Typhoon Ferdie.
During the price freeze, the prices of LPG and kerosene products should be before the SOC effectivity, the DOE advisory said. “Any rollback shall be implemented, but price increases are strictly prohibited”. | CGC
