- CHERYL G. CRUZ
Diesel price will increase by P13.15 per liter, gasoline by P7.10/L, and kerosene by P10.50/L, effective March 15, oil companies announced Monday.
The super big-time price hike will be the 11th consecutive week that the cost of oil and petroleum products will increase. Last week, there was an increase of P5.85 per liter of diesel, and P3.60 per liter of gasoline, and oil companies said the movement was mainly due to the ongoing Russia-Ukraine war.
The Department of Energy Visayas Field Office, meanwhile, warned profiteers and hoarders of petroleum products.
It said that section 2 of Presidential Decree 1865, which amended Batas Pambansa 33, prohibits the hoarding of petroleum products by retail outlets before a price increase, or in times of tight supply.
Undue accumulation of inventory by industry participant beyond normal inventory also constitutes hoarding of petroleum products, and the same prohibition is provided under Section 29 of the DOE department circular 2017-11-0011, or the Revised Retail Rules Governing the Business of Retailing Liquid Fuels”, and DC2014-01-0001, or the LPG Industry Rules, its advisory said Monday.
“Hoarding of petroleum products for retail is generally defines as refusal, or failure, to sell to the general public even when supply is available and customer has the ability to pay in cash,” the DOE said.
It added that Presidential Decree 1865, amending Batas Pambansa 33, provides penalties to violator of up to five years imprisonment, or fines of up to P50,000, or both. The circulars also provide fines and penalties to industry participants caught, and proven to have violated these regulations.
The DOE urged the public to contact the Department of Energy-Visayas Field Office OIC director, Atty. Russ Mark Gamallo, at 0915-887-3357 for assistance or complaint. | CGC
