The country’s oil firms are raising pump prices by P0.70 per liter for kerosene, P0.40 per liter for gasoline and P0.35 per liter for diesel effective 6 am Tuesday to reflect the movement of world oil prices.
This is the second consecutive weekly oil price increase amid ongoing concerns of the tightening of the global oil supply, as American crude inventories dropped to its three-year low.
World oil prices were also affected by speculations amid the United States-China trade war and oil disruptions in Libya and Canada.
“Phoenix Petroleum Philippines will increase the prices of gasoline by P0.40 per liter and diesel by P0.35 per liter effective 6 am of July 10,” the company said in its advisory.
PTT Philippines and Flying V also issued advisories of price increases, and other oil companies are expected to follow suit
On July 3, the oil firms also increased the price of kerosene by P0.70 per liter, gasoline by P0.65 per liter, and diesel by P0.55 per liter.
The Department of Energy, meanwhile, released a joint administrative order with the Metro Manila Development Authority on the standards for the transport and distribution of cooking gas or liquefied petroleum gas.
Under the order, DoE shall issue the standards compliance certificate to all LPG players who have complied with the pertinent requirements.
DoE will also revoke or suspend the SCC of players found violating the circulars on LPG and recommend the suspension or revocation of business licenses of violators to the local government units.
The department will also inspect LPG delivery vehicles together with a team from the MMDA, Land Transportation Office, and Bureau of Fire Protection.
The inspection team shall impound delivery vehicles found violating the safety standards of the DoE.