The country’s oil firms raised pump prices by as much as P0.70 per liter effective 12:01 am Tuesday to reflect the movement of prices in the world oil market.
The oil firms raised the price of gasoline by P0.55 per liter, diesel by P0.55 per liter and kerosene by P0.70 per liter except for some areas affected by typhoon Odette.
“Caltex, marketed by Chevron Philippines, announces the increase on its fuel prices that will be effective starting December 21, 2021.
Some areas, especially those affected by the recent typhoon, have had no price increase for the meantime,” the company said.
Seaoil Philippines, Cleanfuel and PetroGazz also announced the price increases. Other oil firms are also expected to raise pump prices.
Caltex said there is a price freeze for kerosene in areas declared under state of calamity while there is no price increase for Cebu, Bohol, Aklan, Capiz, Iloilo, Negros Occidental, Bacolod, Negros Oriental, Samar, Leyte, Palawan, Agusan, Surigao, Cabadbaran, Butuan, General Santos and Koronadal that were largely hit by the typhoon.
World oil prices went up as omicron fears faded amid reports that the new variant is less severe than previously thought and existing set of vaccines provide protection, according to reports gathered by the Department of Energy.
On December 14, the oil companies implemented a price increase in domestic oil products.
Gasoline has increased by P1.60 per liter as well as diesel by P1.35 per liter and kerosene by P1.20 per liter.
These resulted in the year-to-date adjustments to stand at a total net increase of P17.30/liter for gasoline, P14.40/liter for diesel and P11.69/liter for kerosene.
DOE said pursuant to the 17 December 2021 declaration of a State of Calamity (SOC) in certain areas, the price freeze on household LPG and kerosene is now in effect.This means that for 15 days following the SOC, prices shall remain at the prevailing levels on the date of the declaration.Consequently, the price roll-backs for these products will be implemented, while increases of any kind are prohibited during the 15-day period.
This is consistent with the policy of the State to ensure the continuous and adequate supply of petroleum products, especially in the face of calamities.
DOE reminded all concerned stakeholders on the necessary implementation of the price freeze in areas that will be placed under a SOC.
“We also ask the public to remain vigilant and to immediately report to the DOE non-compliance to the price freeze for the agency’s appropriate action. Complaints on overpricing shall be backed with certified true copy of receipts to substantiate the claims. Violators shall be subject to the penalties and sanctions provided in the Amended Price Act,” it said.
“Finally, we continue to assure the public that the DOE is closely working with all industry players to ensure that oil facilities remain operational at all times,” the agency said.