- CHERYL G. CRUZ
The third increase in the prices of petroleum products for this year is expected this week, with oil companies announcing hikes in the cost per liter of diesel, gasoline, and kerosene.
Diesel is seen to increase by P2.30 to P2.50 per liter, gasoline by P2.90 to P3.10 per liter, and kerosene by P2.20 to P2.35/liter.
The exact adjustments will be known on Jan. 23, with oil companies regularly implementing movements in retail pump prices every Tuesday.
On Jan. 17, oil companies hiked prices of gasoline by P0.95 per liter and diesel by P0.50/liter, and rolled back the cost of kerosene by P0.15/liter.
These resulted in total adjustments this year to stand at a net increase of P3.10 per liter for gasoline and P0.80/liter for kerosene; and a net decrease of P0.20/liter for diesel, the Department of Energy Oil Monitor showed.
“The week-on-week price of Dubai crude increased by around $.70 per barrel; MOPS gasoline, diesel, and kerosene also increased by about $2.60, $2.70 and $1.25 per barrel, respectively,” the DOE said, adding that “China’s gasoline demand is expected to stay, supported by an anticipated increase in gasoline consumption over the Lunar New Year holiday, and contributing to a decline in exports this month”.
The department, meanwhile, said that the Oil Industry Management Bureau and the field offices are now accepting applications for the registration and issuance of License to Operate (LTO) to qualified DOE-regulated LPG industry participants, with the approval of the guidelines recently.
All DOE-regulated LPG industry participants that have valid and existing Standards Compliance Certificate and those that submitted complete documentary requirements and paid the SCC fees but pending release shall obtain an LTO within six months from the effectivity of the circular Jan. 7 this year.
Those planning to engage in any of the activities of the LPG industry are encouraged to apply for LTO before the actual business operations, the DOE said in an advisory, adding it will also convene sectoral representatives, the Regional Program Implementation Task Force, and National Program Policy Task Force on the “Guidelines for the Implementation of LPG Cylinder Exchange, Swapping and Improvement Programs” that apply to end-consumers, trademark owners, or marketers and their duly authorized dealers and retailers, independent hauler-bulk and hauler-cylinder, refiller, requalifier, and repairer.”/CGC
