THE public must brace for higher oil prices that could go beyond $100 a barrel, Energy Secretary Jose Rene Almendras said Wednesday.
“We have to face reality that a $100-per-barrel [oil] will happen,” he said.
“All the world is in the direction of preparing for such reality. We have to accept the reality that oil is a finite resource. We have to look for alternate energy sources.”
Almendras made the statement even as gas stations in Metro Manila started limiting the amount of fuel motorists may buy following the shutdown of a leaking pipeline that delivers gasoline, diesel and kerosene to Pandacan in Manila from Batangas.
Other stations have either cut shifts or planned to open only five to six days a week as a result of the limited diesel and gas on stock.
The Energy Department said it wanted to do more tests on Philippine Industrial Corp.’s pipeline before it could recommend its reopening.
“What we have asked [the company] to do … is to conduct a bore-hole test and a segmented pressure test to make sure the pipeline is safe to operate again,” newly appointed Energy Undersecretary Jay Layug said.
Almendras said the recent P2 per liter increase in the price of diesel and kerosene and the P1.50 per liter adjustment in the price of unleaded gasoline were within his department’s “computed values.”
The department included in its computation the peso’s weakening to 43.44 to the dollar from 42.73 the previous week.
“Earlier, I explained that what worries me is the fact that [the price of] diesel went up twice that of crude and all the other products,” Almendras said.
“We did inquire from the international market why such a situation occurred, and the explanation is a significant draw-down in diesel inventories, and they’re pointing to China.” –Alena Mae S. Flores, Manila Standard Today
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
