MANILA, Philippines – Major oil companies jacked up prices anew, marking the seventh consecutive week of price increases and the fourth for the month of June.
In separate advisories yesterday, oil companies Petron Corp., Pilipinas Shell, Chevron Philippines, Seaoil Philippines and Total Philippines said they implemented another round of fuel price increases.
The oil firms raised local gasoline prices by 45 centavos per liter and diesel and kerosene by 90 centavos per liter effective 6 a.m. yesterday.
“This reflects movements in the international oil market and foreign exchange rate,” said Petron Corp., the country’s biggest oil refiner.
Yesterday’s adjustment followed last week’s price hike of more than one peso for all products.
Last week, oil firms implemented a P1.05 per liter increase for gasoline prices, P1.45 per liter for diesel and P1.30 per liter for kerosene.
Energy Secretary Carlos Jericho Petilla said that as oil firms raise prices, the government, particularly the energy department, has its hands tied on the matter because of the deregulation of the industry.
He said that what the energy department is doing instead is to closely monitor the global price movements to see if the corresponding adjustments in the local market are warranted.
“So far, it’s moving with the market,” Petilla said.
Zenaida Monsada, director of the energy department’s Oil Industry Management Bureau, said oil companies have taken into account foreign exchange adjustments, a factor that affects oil prices because oil is an imported commodity.
Transport groups led by PISTON staged a protest rally yesterday in front of the Chevron office in Makati on the back of the series of oil price hikes.
This developed as Chevron yesterday denied allegations that it had engaged in price-fixing, price manipulation and predatory pricing and is now evaluating its legal options against the Petroleum Distributors and Services Corp. (PDSC).
In a statement, Chevron said the allegations were previously dismissed by the Makati City Prosecutor’s Office.
The PDSC has asked the Department of Justice to prosecute Chevron
Philippines Inc., owner of Caltex brand, for allegedly controlling pump prices of fuel products.
In a Feb. 5, 2013 resolution, the Makati City prosecutor dismissed the complaint for monopolies and combinations in restraint of trade filed by PDSC against Chevron and its directors in October 2012. –Iris Gonzales (The Philippine Star)
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
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against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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