Big-time fuel price hikes start Tuesday, oil companies to stagger increases

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Oil companies have agreed to stagger fuel price increases this week. These oil companies are Shell, Petron, Total, Chevron, Jetti Petroleum, and Seaoil Phils. Inc. The fuel price hikes start tomorrow. According to the Department of Energy, diesel prices will spike by around ₱17.50 to ₱24.25 per liter. Gasoline prices, meanwhile, will jump by around ₱7 to ₱13 per liter. This is based on the various prices stated by the local oil companies. The cost of kerosene is expected to soar by ₱33 to ₱38.50 per liter. This is also based on the various prices by the local oil companies.
Reported by: Ed Paolo Salting
Read: https://tmt.news/2295693

The PNP will be inspecting gas stations all over the country. They will assist the Department of Energy (DOE) in monitoring potential profiteering and fuel hoarding. The DOE has ordered all oil companies and gasoline stations to strictly comply with existing fuel pricing rules and anti-hoarding regulations. Under the directive, gasoline stations are not allowed to implement unscheduled or unauthorized price increases.
Reported by: Izel Abanilla

The Customs Bureau has created a task force to monitor the country’s oil inventory level. This is in response to allegations of widespread hoarding of petroleum products even before the scheduled oil price hikes take effect. Customs Commissioner Ariel Nepomuceno has instructed all customs ports across the country to closely monitor the volume of oil importations. They were also ordered to assess the sufficiency of the existing fuel supply. The newly created task force will ensure data accuracy.
Reported by: William Depasupil

The LTFRB is reviewing its earlier recommendation for a provisional fare increase for public utility vehicles amid continuing fuel price hikes. LTFRB Chairman Vigor Mendoza says they needed to recalculate their previous proposal. He noted that the earlier recommendation was made based on previous fuel price projections. The LTFRB had considered recommending a 50-centavo increase in the minimum jeepney fare when diesel prices were projected to reach between ₱61 and ₱65 per liter. Mendoza said they would review the figures again to determine the appropriate fare adjustment.
Reported by: Franco Baroña

President Marcos will soon request Congress to grant him emergency powers to reduce fuel excise tax. Palace Press Officer Claire Castro said Marcos will be sending his request at the soonest possible time. The president earlier said he plans to reduce the excise tax on petroleum products if oil prices reach or exceed eighty US dollars per barrel. He said the proposed measure would be temporary.
Reported by: Tina Maralit
Read: https://tmt.news/2295621

Philippine tennis ace Alex Eala faces world number 14 Linda Noskova in the fourth round of the Indian Wells Open in California. Eala entered the round of 16 after a walkover 6-2, 2-love win against world number four Coco Gauff of the US. The American retired due to an injury. Noskova is currently the number one women’s singles player in the Czech Republic. Last year, she reached the fourth round at Wimbledon and the third round at the US Open.
Reported by: Niel Victor Masoy
Read: https://tmt.news/2295613

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