Oil companies again hike pump prices


Oil companies again increased the pump prices of petroleum products, a week after implementing a price rollback.

Eastern Petroleum, Flying V, Phoenix Petroleum, Pilipinas Shell, PTT Philippines, Total and Seaoil raised the price of diesel by 55 centavos per liter effective 6 a.m. on Tuesday.

The cost of gasoline went up by 35 centavos per liter while the price of kerosene was hiked by 80 centavos per liter.

Unioil, meanwhile, raised the prices of diesel and kerosene by 55 centavos per liter and 35 centavos per liter, respectively.

The oil price adjustments were announced as consumer group Laban Konsyumer Inc. (LKI) urged the Department of Energy (DoE) to release information on petroleum products and electricity prices.

In a letter to Energy Secretary Alfonso Cusi dated April 16, the group expressed the need to unbundle the retail prices of fuel products to provide consumers with the necessary information about the fair pricing of oil prices.

“DOE will note that oil companies and the new players have practically uniform prices for diesel. This situation does not appear tenable since oil companies and new players procure their products differently,” the group said.
LKI President Victor Dimagiba said the DoE has the authority to issue circular mandating the unbundling of retail fuel prices

“Even under full deregulation, the DoE secretary is authorized to ensure fair pricing of the petroleum products for the benefit and information of the consumers,” Dimagiba, a former Trade undersecretary, said.

On power rates, LKI said the Energy department should regularly publish maintenance schedules of power plants and energy suppliers for transparency and consumer empowerment.


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