Gasoline, diesel prices up as September ends | ABS-CBN
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Gasoline, diesel prices up as September ends
Gasoline, diesel prices up as September ends
Motorists queue for fuel at a gas station in Pasig City on October 10, 2022. Mark Demayo, ABS-CBN News/File
Motorists queue for fuel at a gas station in Pasig City on October 10, 2022. Mark Demayo, ABS-CBN News/File MANILA (UPDATE) – Gasoline and diesel prices will increase in the last week of September, oil firms said Monday.
Fuel companies announced the following price adjustments, effective Tuesday, Sept 24.
SHELL PILIPINAS, SEAOIL, CALTEX (from 6 a.m.)
Gasoline P1.10/liter increase
Diesel P0.20/liter increase
Kerosene No change
Kerosene No change
PETRO GAZZ, PTT PHILIPPINES (from 6 a.m.)
Gasoline P1.10/liter increase
Diesel P0.20/liter increase
CLEANFUEL (from 4:01 p.m.)
Gasoline P1.10/liter increase
Diesel P0.20/liter increase
Overall, from January to Sept. 24, 2024, there is still a net increase of P5.95/L for gasoline, P1.95/L for diesel while kerosene has already a net rollback of P6.35/L.
Overall, from January to Sept. 24, 2024, there is still a net increase of P5.95/L for gasoline, P1.95/L for diesel while kerosene has already a net rollback of P6.35/L.
The Department of Energy attributes the price increase to the worsening situation in the Middle East due to rising tension between Israel and Hezbollah as well as the planned interest rate cut in the US.
The Department of Energy attributes the price increase to the worsening situation in the Middle East due to rising tension between Israel and Hezbollah as well as the planned interest rate cut in the US.
Members of Bayan Muna and Karapatan held a protest action in front of a Petron station along Commonwealth Avenue near the QC circle.
Members of Bayan Muna and Karapatan held a protest action in front of a Petron station along Commonwealth Avenue near the QC circle.
Aside from condemning the oil price hike this week, the group also urged the government to pass a law that will legislate the unbundling of fuel prices in the philippines.
Aside from condemning the oil price hike this week, the group also urged the government to pass a law that will legislate the unbundling of fuel prices in the philippines.
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Under the unbundling scheme, oil firms will now be forced to submit pricing information to the DOE to check if it matches with its retail price.
Under the unbundling scheme, oil firms will now be forced to submit pricing information to the DOE to check if it matches with its retail price.
In a recent Supreme Court decision, the high tribunal ruled to remove the injunction against the order of the DOE to oil firms to unbundle fuel prices.
In a recent Supreme Court decision, the high tribunal ruled to remove the injunction against the order of the DOE to oil firms to unbundle fuel prices.
This gives the DOE the right to ask for details about imported products price, insurance, freight, profit and other factors that are relevant in the pricing of fuel products.
This gives the DOE the right to ask for details about imported products price, insurance, freight, profit and other factors that are relevant in the pricing of fuel products.
But DOE Assistant Director Rodela Romero says the agency still needs to consult with the Office of the Solicitor General on how to implement the SC decision.
But DOE Assistant Director Rodela Romero says the agency still needs to consult with the Office of the Solicitor General on how to implement the SC decision.
NASECORE: COA AUDIT ON MERALCO
Meanwhile, consumer group NASECORE has formally written Malacanang and asked President Ferdinand Marcos Jr to urge the Energy Regulatory Commission to authorize an audit of Meralco.
Meanwhile, consumer group NASECORE has formally written Malacanang and asked President Ferdinand Marcos Jr to urge the Energy Regulatory Commission to authorize an audit of Meralco.
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Nasecore says an audit of the Commission on Audit on Meralco will reveal charges that should not have been allowed, resulting to a potential refund for consumers.
Nasecore says an audit of the Commission on Audit on Meralco will reveal charges that should not have been allowed, resulting to a potential refund for consumers.
"We believe that a COA audit, just like in the past, will discover numerous disallowable expenses that will result in additional huge refund to the consumers of MERALCO." reads a part of nasecore's letter to malacanang last Sept. 20, 2024.
"We believe that a COA audit, just like in the past, will discover numerous disallowable expenses that will result in additional huge refund to the consumers of MERALCO." reads a part of nasecore's letter to malacanang last Sept. 20, 2024.
Meralco, meanwhile, said it's rates undergo "rigorous review, approval and validation process" before being implemented to ensure these are fair and reasonable.
Meralco, meanwhile, said it's rates undergo "rigorous review, approval and validation process" before being implemented to ensure these are fair and reasonable.
"The rate determination exercise by ERC is a transparent process and involves lengthy public hearings and consultations. It may result in rate adjustments, which could either be an increase or decrease, as may be directed by the ERC," it said.
"The rate determination exercise by ERC is a transparent process and involves lengthy public hearings and consultations. It may result in rate adjustments, which could either be an increase or decrease, as may be directed by the ERC," it said.
"Meralco has always been transparent, cooperative and compliant with all legal and regulatory directives governing its operations," it added.
"Meralco has always been transparent, cooperative and compliant with all legal and regulatory directives governing its operations," it added.
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