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Fuel prices up again

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INQUIRER FILE PHOTO

MANILA, Philippines—Four oil companies raised prices of petroleum products at 6 a.m. Tuesday to reflect international price movements.

Petron, Shell, Chevron, and Seaoil said in separate advisories via text message that the gasoline prices were to go up by P0.50/liter, diesel by P0.35/liter, and kerosene by P0.50/liter.

The adjustments reflect movements in the international oil market, the companies said.

Shell said the price increases were “with DOE acknowledgement.”

Other companies have not announced any price increase. Oil companies  operating in the Philippines tend to track each other’s price movements since the country imports about 90 percent of its fuel requirements.


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Tags: chevron , Consumer Issues , gas prices , Petron , Seaoil , Shell

  • Hellomr

    Commodities
    Brent Crude Oil : $108.15/BBL 0.07%
    Light Crude Oil : $106.91/BBL -1.07%
    Natural Gas : $3.68/MMBtu -2.96%
    Unleaded Gasoline : $3.05/gal -2.41%
    prices from: Jul 22 change since

  • francis deocaris

    The oil deregulation law should be repealed or amended. If this is no longer possible..then they should just increase the price of gasoline to Php 10,000.00 per liter. Para lahat tayo mag bisekleta nalang.

  • bubi78

    Grabe dito sa amin PH 60.12/liter ang premium! The stock reply of the DOE’s apologists and, of course, of the oil firm themselves is that the prices of fuel and oil only “reflect the movements in the international oil markets.” How facile and convenient for them to say that, but the last time premium gasoline hit the PH 60/liter level (i.e. here in our city) was in 2008; back then crude oil was at $140 per barrel and the dollar to peso exhange rate was 1:50. In contrast the current crude oil price is $106 per barrel and the exchange rate is 1:43.

    What gives? A contributory factor to the inflated prices of fuels and oils, one that the government declines to acknowledge and abhors to relinquish, is the EVAT on petroleum products. Alas, aside from the EVAT, there is the excise tax to contend with, not to mention the duties levied on imported petroleum products; all these weigh heavily on the price that the consumer has to pay in the end; futhermore, there are still other factors involved, e.g. the cartel in the oil industry, computations as well, but these are beyond my ken to expound on. To make matters worst, it seems the current administration, through the DOE, has given the oil firms carte blanche to set their prices as they see fit. But why? Was it because the oil firms contributed heavily to the campaign kitty of PNoy and lately to the campaign funds of the Liberal Party in the midterm elections, as well? It must be that grease and money are inherently interwined and one follows the other. Draw your own conclusion yourself; but the indubitable truth remains – the oil firms are bent on squeezing the Filipinos dry for the highest possible profits ever and the government, on its part, is keen on keeping its share of the much needed revenues derived therof. What about us? Well, the government has given us 7.8% GDP growth, two investment grade ratings, peace pact with the MILF, expanded Philhealth coverage, etc., ad nauseum. Yeah, what is there to complain about? Nada, only inconsiderate ‘talangkas’ do that!

  • pnoyjudge

    same old sh*t story

  • db2 synon

    Mga sugapa na oil companies…sunog na kaluluwa nyo



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