Fuel prices set to go up this week

Posted at 02/17/2014 10:45 PM | Updated as of 02/18/2014 9:17 AM

MANILA, Philippines – After a few small price cuts, another hefty increase awaits motorists using gasoline products anytime this week with diesel and kerosene prices likely to go up as well.

The Department of Energy (DOE) has confirmed the price hike but refused to divulge its own price computation.

But according to ABS-CBN News sources, gasoline prices will go up by P1 to P1.30 per liter; diesel by P0.40 to P0.70 per liter; and P0.25 to P0.50 for kerosene.

The DOE said the cost of imported fuel has gone up and will likely be reflected this week.

"Talagang naglalaro ang presyo ng gasoline ayon sa markado. Hindi ito sinasadya," said Energy Sec. Jericho Petilla.

As expected, motorists are not happy.

“Huwag naman sana nila muna itaas ‘yung gasoline,” said one motorist.

Since January this year, gasoline and diesel prices have increased by more than P1 per liter, but were also tempered by several rollbacks.

Jeepney groups Alliance of Concerned Transport Organizations (ACTO) and FEJODAP will ask the Land Transportation Franchising and Regulatory Board (LTFRB) to grant them a P0.50 provisional increase in minimum fares during the hearing this Friday.

This will raise jeepney fares to P8.50.

ACTO said its members will implement the P0.50 hike in March even if the LTFRB fails to act on their motion.

"Wala ding dahilan ang LTFRB para sabihin na kami ay salbahe o hindi kami sumunod sa mga alituntunin. Ipapatupad namin ang tama," said ACTO president Efren de Luna.

Meanwhile, the DOE has assured consumers of enough liquefied petroleum gas (LPG) supply this summer.

The assurance was made despite the warning of LPGMA Rep. Arnel Ty that prices and supply will be affected by the closure of the LPG terminal of Pilipinas Shell and the maintenance shutdown of its Batangas refinery next month.