Oil firms to conduct 'big-time' hikes this week

MANILA: Motorists ready your wallets: fuel companies in the Philippines will implement a huge price bumps in their products at the pump this week.

The announcement on the adjustments for the week came as the situation in the Middle East looms, which affected supply and prices of oil worldwide.

Based on the advisory posted over social media, the Department of Energy (DOE) shared the varying adjustments per brand.

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Check out the various brand’s total price increases per product for March 10-16 as stated in the energy department’s posting on Facebook:

	Overall price hikes this week (in peso per liter)
Shell
Gasoline	8.75
Diesel	24.25
Kerosene	36
Petron
Gasoline	8.80
Diesel	19.20
Kerosene	32
Total
Gasoline	10.20
Diesel	20.20
Chevron (Caltex distributor)
Gasoline	7
Diesel	17.50
Kerosene	38.50
Jetti
Gasoline	9
Diesel	19
Seaoil
Gasoline	11-13
Diesel	21-23
Kerosene	33-35

However, Seaoil in its separate social media post showed different figures. Its scheduled increase this week, the firm announced, will have a total of:

• Gasoline: P8.80 per liter
• Diesel: P21.85 per liter
• Kerosene: P35.95 per liter

To ensure that customers will not suddenly feel the impact, the price hikes will be implemented in tranches — based on their agreement with the DOE.

The adjustments on the following dates are as follows (according to DOE):

	March 10	March 11	March 12	March 13	March 14	March 15	March 16
Shell
Gasoline	5.25	2.65	0.85
Diesel	14.55	7.30	2.40
Kerosene	21.60	10.80	3.60
Petron
Gasoline	5.20	1.80	1.80
Diesel	11.60	3.80	3.80
Kerosene	19	6.50	6.50
Total
Gasoline	5.10	51.10
Diesel	20.20	20.20
Chevron (Caltex distributor)
Gasoline	1	1	1	1	1	1	1
Diesel	2.50	2.50	2.50	2.50	2.50	2.50	2.50
Kerosene	5.50	5.50	5.50	5.50	5.50	5.50	5.50
Jetti
Gasoline	2	2	1	1
Diesel	3	3	3	3
Seaoil
Gasoline	5.50-6.50	P5.50-6.50
Diesel	10.50-11.50	10.50-11.50
Kerosene	16.50-17.50	16.50-17.50

Meanwhile, Energy Secretary Sharon Garin announced that the department is set to issue at least 54 show cause orders over possible violation of the DOE directives. She noted that those who will be caught not complying could face cancellation of permit.

At the House of Representative, Speaker Faustino Dy III rallied fellow lawmakers to push measures that would protect Filipinos from the effects of oil price shocks brought about by the ongoing conflict in the Middle East.

In a statement, Dy shared that lawmakers and House committees will push priority bills aimed at softening the impact of rising oil prices on key sectors of the economy, particularly workers, commuters, farmers and small businesses.

“We recognize that this is a challenge we must face head on, which is why the House of Representatives will work with the Executive to focus on measures that will help cushion the effects of rising oil prices on the various sectors of our economy—especially our workers, commuters, farmers, and small businesses.”

Also read:

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EV Love: list of PHEV models recognized by DOE

EV Love: list of HEV models recognized by DOE

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