• CHERYL G. CRUZ
The third straight week of fuel price hikes will take effect tomorrow, Jan. 21, oil companies said over the weekend.
Diesel will increase by P2.60 to P2.80 per liter, gasoline by P1.50 to P1.70 per liter, and kerosene by P2.30 to P2.50/L. The exact adjustments will be known today.
Since the start of this year, diesel already increased by P2.30/liter, while gasoline and kerosene have total net increases of P1.80/liter each, as per the Department of Energy Oil Monitor.
“The week-on-week price of Dubai crude has increased by around $1.23 per barrel, while the international prices of gasoline, diesel, and kerosene also increased by about $0.85, $0.98, and $1.41 per barrel, respectively,” the DOE said.
It added that the upward adjustments were due to various reasons, including seasonal winter demand strength, and the risk of US sanctions on Russia. Reports said the US and UK are imposing sanctions on Russian oil, so there might be cutbacks in supply that could drive up global crude prices.
The DOE Visayas Field Office, meanwhile, cautioned the public about certain individuals, misrepresenting themselves as current employees of the department and have engaged in unlawful negotiations on the release of confiscated items and/or have facilitated the unauthorized issuance of licenses or permits to purportedly qualified participants in the downstream oil industry.
“We advise the public, particularly the industry participants, to immediately report the matter, or any similar unscrupulous acts, through 032-2537222, or email at vfo.admin@doe.gov.ph,” the DOE said in an advisory, adding that persons or organizations misrepresenting themselves to be authorized by, or associated with the DOE-VFO, or any of its officials, shall be dealt with accordingly. | CGC
