(UPDATE) THE Department of Energy (DOE) on Monday announced that fuel prices will rise sharply over the next few days starting Tuesday, March 10, as the Middle East conflict continues to disrupt global oil supply and prices.
Over this period, oil companies will raise gasoline prices by as much as P10.20 a liter, diesel by as much as P24.25 a liter, and kerosene by as much as P38.50 a liter.
Energy Secretary Sharon Garin said the increases would be imposed on a staggered basis over the next several days.
Meanwhile, a Palace official said President Ferdinand Marcos Jr. was set to ask Congress for emergency powers to reduce the excise tax on fuel to cushion the impact of the latest price increases.
In all this week, Shell will raise gas prices by P8.75 a liter, diesel by P24.25 a liter, and kerosene by P36 a liter. Among the oil companies, its increase in the price of diesel is the highest.
Petron, on the other hand, will raise gas prices by P8.80, diesel by P19.20 and kerosene by P32.
Total will raise the price of gas by P10.20 and diesel by P20.20. Its price increase for gasoline is the highest among the oil companies.
Chevron (Caltex) will hike gas by P7, diesel by P19.20 and kerosene by P38.50. Among the oil companies, its increase in the price of kerosene is the highest.
Jetti Petroleum will raise gas prices by P9 and diesel by 19.
Seaoil will increase the price of gas by P8.80, diesel by P21.85 and kerosene by P35.95.
Unioil will raise the price of gas by P7, and diesel by P19.50.
The DOE said the companies would follow the following schedule for their price hikes:
Shell will raise gas prices by P5.25 on March 10, P2.65 on March 11 and P0.85 on March 12. It will raise diesel prices by P14.55 on March 10, P7.30 on March 11, and P2.40 on March 12. It will hike kerosene prices by P21.60 on March 10, P10.80 on March 11 and P3.60 on March 12.
Petron will increase gas prices by on P5.20 on March 10 and P1.80 on both March 11 and March 12. Diesel will to up by P11.60 on March 10, and P3.80 on both March 11 and March 12. Kerosene will go up by P19 per liter on March 10, and P6.50 per liter on both March 11 and March 12.
Total said that it will increase its gasoline prices by P5.10 per liter on both March 10 and March 11, and hike its diesel prices by both P10.10 per liter on both March 10 and March 11.
Caltex will raise gas by P1 each day starting March 10 to March 16, diesel by P2.50 each day over the same period, and kerosene by P5.50 each day, also from March 10 to March 16.
Jetti Petroleum already raised its gas price by P2 on March 8 and P1 on March 9, and will continue to increase gas prices by P2. On March 10 and March 11, and then by P1 on March 12 and March 13. Diesel prices were increased by P3 starting March 8 and will continue going up by this amount until March 13.
Seaoil will increase gasoline by P5.20 on March 10 then by P3.60 on March 11. Diesel will go up by P13.95 on March 10 and by P7.90 on March 11. Kerosene will go up by P20.95 on March 10, and P15 on March 11.
Unioil, it said that will increase gasoline prices by P3 on March 10 and March 11, and then by P1 on March 12.
For diesel, Unioil said that it will hike by P12.00 per liter on March 10, P4.00 per liter on March 11, and P3.50 per liter on March 12.
This is the eighth consecutive week that all fuel prices increased.
Last week, gasoline prices increased by P1.90 per liter, diesel prices went up by P1.20 per liter, and kerosene prices were raised by P1.50 per liter.
Marcos to issue formal request to Congress for emergency powers to reduce fuel excise tax.
Excise tax relief
In New York, Presidential Communications Office (PCO) Undersecretary Claire Castro said President Marcos is set to request Congress to grant him emergency powers to reduce the excise tax on fuel as part of the government’s efforts to cushion the public from the impact of rising oil prices.
The president earlier said he is considering such a move if oil prices reach or exceed $80 per barrel. On Monday, they spiked close to $120 a barrel.
Castro also said the Palace has been made aware of the 54 gasoline stations that prematurely raised fuel prices ahead of the DOE announcement.
“The DOE has issued a show-cause order to these 54 gas stations so we can prove whether or not they violated the call not to increase gasoline prices. If it is proven that they have committed fraudulent acts, they can have their transaction permits canceled,” Castro said.
The official warned profiteers that the government would go after them.
One of these was gas station in Pasig City that raised the price of gasoline from P51.98 to P79.93 per liter, an increase of more than 54 percent, said Energy Undersecretary Felix William Fuentebella, who led the inspection of the establishment.
Fuentebella said the gas station was given 24 hours to submit a written explanation on why it allegedly violated the DOE’s fuel pricing and loading policies.
“Based on the reports we received, on March 6 and March 7, they did not follow these orders, so they must explain within 24 hours,” Fuentebella said during the inspection.
The inspection determined that the establishment failed to comply with a DOE advisory issued on March 6 directing oil companies and gasoline stations to strictly follow the agency’s price directives on petroleum products.
Under the advisory, gasoline stations are required to comply with authorized fuel price adjustments, including any staggered price increases ordered by the Energy secretary.
The DOE also reiterated that gasoline stations are not allowed to prematurely implement price increases, engage in profiteering, or assist in any form of illegal price manipulation.
The agency said it continues to closely monitor fuel retailers to ensure compliance with government pricing policies and to protect consumers from possible overpricing amid the ongoing missile exchanges and escalating conflict in the Middle East.
The Manila Times reached out to the gas station involved for comment but has yet to receive a response.
Police to monitor gas stations
The Philippine National Police (PNP) on Monday mobilized nationwide tracker teams to inspect gas stations all over the country to help the DOE monitor possible profiteering and gas hoarding.
“That includes [monitoring of gasoline stations, as we are already on] Day Seven of the crisis in the Middle East. Since Day One, that has been the directive of the chief PNP to the Directorate for Intelligence of the CIDG (Criminal Investigation and Detection Group),” BGen. Randulf Tuaño, PNP Public Information chief, said in a press briefing at Camp Crame.
On Saturday, the DOE ordered all oil companies, gasoline stations and downstream oil industry participants to strictly comply with existing fuel pricing and anti-hoarding regulations.
Under the directive, gasoline stations are not allowed to implement unscheduled or unauthorized price increases outside established pricing adjustments.
