• CHERYL G. CRUZ
Expect fuel prices to go up tomorrow, Nov. 12, with diesel set to increase by P1.80 to P2 per liter, gasoline by P1.20 to P1.50/L, and kerosene by P1 to P1.30/L.
This will be the third straight week of price increases for diesel and kerosene, and the first for gasoline, with exact adjustments to be known today.
The Department of Energy said that total adjustments for gasoline and diesel since the start of this year stood at a net increase of P8.65/liter and P7.30/liter, respectively, while kerosene logged a net decrease of P2.60/liter.
The DOE, through its Oil Industry Management Bureau (OIMB), said it is also strictly monitoring the full compliance of oil industry players with the mandated three percent coconut methyl ester (CME) blend in all diesel fuel sold nationwide.
“Oil companies have been given ample time to make this adjustment, and the OIMB will now conduct inspections at bulk depots to enforce compliance” Undersecretary Alessandro Sales, who supervises the Bureau, said in a statement, adding that “timely action at the depot level is crucial to maintaining an up-to-date and efficient fuel distribution chain.”
The phased increases in biodiesel blend started Oct. 1, initially at three percent, then to four percent by Oct. 1 next year, and to five percent in October 2026.
The OIMB will gradually expand its inspections to include gasoline stations in the coming weeks, Sales said, as he stressed that non-compliance with the three percent biofuels blend will result in penalties of P200,000, and a fine of P300,000 and revocation of accreditation or registration for repeat offenders. | CGC
