MANILA (UPDATE) -- Oil prices are falling in the second week of September.

Companies on Monday announced the following price drops effective Sept. 10, Tuesday:

SHELL, PETRON, SEAOIL, CALTEX (effective 6 a.m.)
Gasoline - P1.55/liter decrease
Kerosene - P1.40/liter decrease
Diesel - P1.30/liter decrease

CLEANFUEL (effective 12:01 a.m.)
Gasoline - P1.55/liter decrease
Diesel - P1.30/liter decrease

PETROGAZZ, PTT, JETTI, UNIOIL (effective 6 a.m.)

Gasoline - P1.55/liter decrease

Diesel - P1.30/liter decrease 

The Department of Energy (DOE) said the primary reason for the rollback is the sluggish demand for oil, as several big countries experience economic slowdowns.

The price reduction follows a see-saw movement in prices since August 13.

 But DOE Assistant Director Rodela Romero said that based on the agency’s computation, the total reduction for gasoline prices from Aug 13 until tomorrow amounted to P5.15/liter, against the total increase of P1.50/liter.

For diesel, the decrease in prices from Aug. 13 totaled P5.10 per liter versus the total increase of P1.50 per liter.

From January until Sept. 10, the net increase for gasoline stands at P5.85/L, while the net increase for diesel is at P3.05/liter. Meanwhile, there is a net rollback of P4.70/liter for kerosene.

ERC CHAIR GETS SUSPENDED

Meanwhile, the Energy Regulatory Commission (ERC) received on Monday, the suspension order of the Ombudsman against its chairperson and chief executive officer Monalisa Dimalanta. 

The 6-month preventive suspension order was served by the Office of the President. 

In a statement, Dimalanta maintained that she had yet to receive the order.

In an interview with Gising Pilipinas over Radyo630, the president of the National Association of Electricity Consumers for Reforms Inc (NASECORE) also said he has not received a copy of the decision.

NASECORE president Pete Ilagan has said that he filed 2 separate complaints against Dimalanta, one for allegedly ignoring several motions and the other one related to the purchase of Meralco in the wholesale electricity spot market (WESM).

WESM purchases of electric cooperatives and utilities have been done for many years long before Dimalanta was appointed as ERC chair two years ago.

As a matter of fact, Meralco has been sourcing around 20-30 percent of its supply from the spot market for many years.

Dimalanta said Malacanang is set to appoint an OIC in the commission soon. There are 4 commissioners left, ensuring a quorum in the collegial body.

Current commissioners include Atty. Alexis Lumbatan, Atty. Rexie Digal-Baldo, Catherine Maceda and Marko Lizada Fuentes.

The Philippine Chamber of Commerce and Industry (PCCI) has expressed its “concern” over Dimalanta’s six-month suspension, saying this “puts at risk the trust, independence and authority of the ERC.”

The PCCI praised Dimalanta, saying the ERC has become more active in addressing issues in the industry since her appointment, by acknowledging the important role of energy and power in attracting investments and improving the productivity of local industries and enterprises.

“Faced with tremendous legacy challenges to the power sector over the years, the ERC, under the leadership of Atty. Dimalanta, has taken a pro-active stance in its rate and service regulation functions, in promoting competitive operations of the electric power industry and education campaign for consumer protection,” the PCCI said.