- CHERYL G. CRUZ
The first rollback in the prices of petroleum products this 2023 is expected starting Jan. 10, with the cost per liter of diesel estimated to go down by P2.40 to P2.60, gasoline by P0.50 to P0.60 per liter, and kerosene by P2.25 to P2.85.
The exact price decrease will be known Jan. 9 as oil companies usually implement the corresponding adjustments every Tuesday.
Effective Jan. 3, diesel went up by P2.10 per liter, gasoline by P2.90/L, and kerosene by P3.05/L, the first price hike for the year.
These resulted in the year-to-date total adjustments to stand at a net increase of P29.40 per liter for diesel, P17.80/liter for gasoline, and P24.35/liter for kerosene, the Department of Energy Oil Monitor showed.
“The recent easing of travel restrictions boosted oil demand, but the worsening COVID situation in China as it eases restrictions alerts markets, limiting further price upticks,” the DOE added.
Meanwhile, the department already issued Circular No. DC2022-11-0037, or the guidelines on the registration and issuance of license to operate to qualified DOE-regulated LPG industry participants.
It states several prohibited acts under Republic Act 11592, or the LPG Industry Regulation Act and its Implementing Rules and Regulations, like engaging in the selling of LPG without a license to operate or registration from the DOE;
Selling and distributing defective, injurious, unsafe, dangerous, and noncompliant or substandard LPG pressure vessels, selling of adulterated LPG in bulk and in pressure vessels, and pilfering LPG, among others./CGC
