Oil prices went up by as much as P1.30 per liter starting Tuesday to reflect the movement of world oil prices last week.
Petron Corp., Phoenix Petroleum, Seaoil Philippines, Flying V, Eastern Petroleum and Unioil Philippines issued price advisories of the P1.30 per liter increase in for diesel, P0.90 per liter increase for kerosene and P0.45 per liter increase for gasoline.
“Petron will implement the following prices increases effective 6 a.m. Sept. 12: P0.45 per liter for gasoline, P1.30 per liter for diesel and P0.90 per liter for kerosene. These reflect movements in the international oil market," Petron said.
Rino Abad, Energy department director for the Oil Industry Management Bureau said diesel prices went up higher in the world market compared to gasoline due to several reasons.
He cited as the refining decline in the US due to the disturbance brought about by hurricane “Harvey” and Irma.
Abad said the continuing production supply cut deals among the Organization of Petroleum Exporting Countries including Russia also raised prices.
Abad also said prices went up because of the “the usual increase in demand for heating purposes with the onset of the “Ber” months.”
The department warned over the weekend that pump prices may increase this coming week by as much as P1 per liter due to movements in the world oil market.
“The DoE observed that last week’s international oil trading may affect the domestic prices of gasoline, diesel and kerosene,” the agency said in a statement.
DoE monitor the prices of oil products in the world market and its effects on the domestic prices of petroleum products as mandated by the Oil Deregulation Law of 1998.
Adjustments on petroleum products are implemented every Tuesday of the week.
Last Sept. 5, the oil firms raised the price of kerosene by P0.50 per liter and diesel and kerosene by P0.40 per liter, respectively.
The department, meanwhile, is intensifying its efforts to curb illegal activities in the oil industry.
The DoE-Visayas field office together with the Philippine National Police-Criminal Investigation and Detection Group raided Friday night (Sept. 8) a liquefied petroleum gas refilling station located in Mandaue, Cebu following a tip of irregularities in its operations.
The team confiscated three bullet tanks (two of which with a 2-ton capacity and one 4-ton capacity); forty 50-kg cylinders; one 250-kg tank; four canister refilling machines; one sealing Machine; 68,000 empty canisters; 16,000 LPG-filled canisters which has an estimated value of P2.7 million; three air compressors; and a van being utilized for the alleged illegal operations.
The alleged owner of the illegal refilling station Douglas Labra, has been detained for further investigation and questioning.
The confiscated items will be sent to a storage facility in Naga owned by the Cebu Provincial Government while the investigation is ongoing.
The DoE is working in close coordination with the Provincial Government of Cebu following its ordinance to eliminate illegal activities in the downstream oil industry under its jurisdiction.
“The DoE encourages consumers to report illegal activities concerning the energy sector, particularly in the oil and power sectors, and not to patronize illegal and unsafe practices,” it said.