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Oil Company

Oil Company hike

Oil companies have told the Department of Energy (DOE) on Tuesday that they will raise fuel prices, the biggest yet in recent weeks.

Petron Corp., Chevron Philippines, Pilipinas Shell, PTT, City Oil Philippines, and Total will raise their gasoline price by P1.50 per liter, diesel by P1.50, kerosene by P1.40 and regular gas by P1.25.

Oil companies will implement the price hikes by 6 a.m. Tuesday. Only Petron will raise fuel prices by noon also on Tuesday.

Since January this year, the price of gasoline has gone up by over P6 per liter, while the cost of diesel went up by over P8.

The 2 weeks financial (–foul word(s) removed–)istance program for public utility vehicles to help PUV operators cope with the rising cost of fuel was announced by the government.

The financial (–foul word(s) removed–)istance program for each beneficiary is estimated to amount to P1,050 per month.

However, the transport group Piston has questioned the government’s intentions with regards to the continuing rise in fuel prices, as the group’s members feel that the (–foul word(s) removed–)istance program will barely make a difference.

“There is no other way for the transport but to file up on the road for protest. Pantawid gutom? Pantawid rating ito,” said Piston secretary-general George San Mateo.

Another round of protests will be held by Piston on Tuesday at the Makati offices of Shell.

Meanwhile, the DOE is asking for understanding.

The “Pantawid Pasada” was never meant to be a solution for the problem of rising petroleum costs.

“Ito ay alalay lang, isa lang ito sa mga programa. This is not the answer of all burdens of continues rising oil price,” said DOE director Zenaida Monsada.

Transport groups officials like 1-UTAK, PASANG MASDA and ACTO said, “They are willing to wait for the Palace to come up with a better plan to deal with high energy costs.”

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