DoE advice: Find cheaper fuel amid coming price hike
DoE price monitoring points to gasoline stations that provide as much as a P4 discount per liter; some gas stations providing such discounts can be found in the Commonwealth area.
Daily TribuneDoE price monitoring points to gasoline stations that provide as much as a P4 discount per liter; some gas stations providing such discounts can be found in the Commonwealth area.
The Department of Energy on Saturday advised motorists to look for gasoline stations that are selling affordable fuel products amid the upcoming surge in prices this coming Tuesday
A whopping more-than-P2 increase in the price of diesel and gasoline fuel, as well of kerosene will hit consumers next week.
"Let's be wise and use the power of choice. According to the price monitoring of the DoE, there are gasoline stations that provide as much as a P4 discount per liter," said DoE's Assistant Secretary for Oil Industry Management Bureau Rodela Romero in a radio interview on Saturday.
Price hikes start Tuesday
The forecast for diesel and kerosene starting Tuesday, 18 September, said diesel will have price spikes between P2.30-P2.60 per liter, while kerosene will have a P2-P2.30-per liter increase.
Gasoline prices, meanwhile, will be jacked up from between P1.70 to P2 per liter.
Among independent fuel players providing lower prices are gasoline stations located in Quezon City's Commonwealth area.
As of 14 September, the prevailing price of diesel provided by independent players was at P60.85 and 61.80, while gasoline was at P63.25 and 63.25.
Private motorists will feel more
The price spikes will be felt more by private motorists; for their part, public transport drivers and operators are set to receive fuel subsidies from the government.
Earlier this week, the Land Transportation Franchising and Regulatory Board said it has already commenced distributing P2.95 billion in fuel subsidies for operators of public utility vehicles to ease the impact of fuel price spikes.
The LTFRB said it would facilitate handing out fuel subsidies to 280,000 beneficiaries, namely jeepneys, taxis, buses, and other public utility vehicles.
Operators of modern jeepneys and modern UV Express, meanwhile, will receive P10,000 in subsidies while traditional jeepneys, taxis, buses, and other PUVs will receive P6,500.
The DoE said among the reasons for the price spikes is the enduring tight supply of oil after Saudi Arabia and Russia announced their extension of voluntary production cuts through the end of 2023, and United States crude stocks showing a larger-than-expected decline.
