Minimal price adjustment possible for fuel products next week; LPG rollback set for June | ABS-CBN
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Minimal price adjustment possible for fuel products next week; LPG rollback set for June
Minimal price adjustment possible for fuel products next week; LPG rollback set for June
MANILA -- Oil prices may dip slightly again next week.
MANILA -- Oil prices may dip slightly again next week.
Based on the first 3 trading days, gasoline prices can go down by just P0.05/liter, kerosene by P0.28/liter and diesel by P0.39/liter.
Based on the first 3 trading days, gasoline prices can go down by just P0.05/liter, kerosene by P0.28/liter and diesel by P0.39/liter.
But with premium and other additional costs, these downward adjustments could be easily wiped out.
But with premium and other additional costs, these downward adjustments could be easily wiped out.
Jetti Petroleum President Leo Bellas sees minimal changes next week, predicting a slight price reduction for diesel and a small spike in gasoline prices.
Jetti Petroleum President Leo Bellas sees minimal changes next week, predicting a slight price reduction for diesel and a small spike in gasoline prices.
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Bellas attributes this to factors pushing and pulling oil prices including the driving season in the US and Europe, which is expected to push gasoline prices up.
Bellas attributes this to factors pushing and pulling oil prices including the driving season in the US and Europe, which is expected to push gasoline prices up.
LPG ROLLBACK SOON
Meanwhile, there is going to be a rollback in cooking gas prices by June 1.
Meanwhile, there is going to be a rollback in cooking gas prices by June 1.
Regasco President Arnel Ty said based on forecasts by 4 international firms, the estimated reduction is P1/kilo to P4/kilo or P11-P44 per 11-kg tank.
Regasco President Arnel Ty said based on forecasts by 4 international firms, the estimated reduction is P1/kilo to P4/kilo or P11-P44 per 11-kg tank.
Ty said the easing of LPG's international price is because of lower demand during the summer season.
Ty said the easing of LPG's international price is because of lower demand during the summer season.
In the Philippines, LPG prices traditionally move only once a month, always on the first day of each month.
In the Philippines, LPG prices traditionally move only once a month, always on the first day of each month.
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ERC SAYS MERALCO RATE RESET DELAYED
Meanwhile, Energy Regulatory Commission Chairperson Monalisa Dimalanta has annouced the delay in the rate reset schedule of Meralco.
Meanwhile, Energy Regulatory Commission Chairperson Monalisa Dimalanta has annouced the delay in the rate reset schedule of Meralco.
The commission earlier this year targeted the completion of the much delayed rate reset by June 2025.
The commission earlier this year targeted the completion of the much delayed rate reset by June 2025.
But this won't be met, Dimalanta says, due to the decision of the Supreme Court ordering the ERC to compute the asset base of all utilities thru the "least cost" method.
But this won't be met, Dimalanta says, due to the decision of the Supreme Court ordering the ERC to compute the asset base of all utilities thru the "least cost" method.
The asset base refers to all the properties including poles, wires, transformers, buildings and other assets that are recovered by utilities from consumers.
The asset base refers to all the properties including poles, wires, transformers, buildings and other assets that are recovered by utilities from consumers.
Dimalanta said the commission needs to devise a method that will comply with the least cost principle ordered by the Supreme Court.
Dimalanta said the commission needs to devise a method that will comply with the least cost principle ordered by the Supreme Court.
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The ERC is set to conduct a public hearing to gather ideas from stakeholders including consumers or consumer groups.
The ERC is set to conduct a public hearing to gather ideas from stakeholders including consumers or consumer groups.
As a result, the rate rebasing process currently being done on Meralco's rate reset application need to be halted until the commission has come up with a methodology that will comply with the "least cost" computation as ordered by the highest tribunal.
As a result, the rate rebasing process currently being done on Meralco's rate reset application need to be halted until the commission has come up with a methodology that will comply with the "least cost" computation as ordered by the highest tribunal.
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