March 26 ------ Exodus to the provinces will be agonizing on the pockets of consumers this week, as they will feel the tangible strain of hefty oil price hikes that are due for implementation at the domestic pumps this week. Based on the pricing advisories of the oil companies, the price of gasoline products will rise by P2.20 per liter; diesel prices will climb by P1.40 per liter; and kerosene by P1.30 per liter.
As of press time, the industry players that already sent notices on their price hikes effective Tuesday on March 26 had been Chevron Philippines Inc. (Caltex), Pilipinas Shell Petroleum Corp., Clenafuel and Seaoil Philippines Corp.; while their competitor-firms are all anticipated to follow. The whims of the global oil markets generally slanted into price upticks last week, mainly due to the drone strikes that Ukraine had launched against oil refineries in Russia; as well as on forecast that benchmark Brent crude will be escalating to $88 per barrel level.
Nevertheless, with prospects of a ceasefire being laid down for Gaza, global industry experts indicated that prices may slow down on trading days ahead – although there are no certainties yet that this will redound to lower adjustments next week. In the Philippine market for the meantime, the Department of Energy (DOE) has stepped up its call on the oil companies “to mobilize assistance along national highways, major roads, tollways and areas leading to pilgrimage sites as motorists embark on Holy Week retreats and summer vacations.”
To partly ease consumers’ financial pain over surging price adjustments at the pumps, the department opined that an extra help they can get from the oil companies will partly ease their discomfort as they travel to their destinations during the Lenten break. “We can compensate them (consumers) with efficient services by ensuring that service stations are well-stocked and the staff can handle the increased volume of cars, including offering extended hours, if necessary,” Energy Secretary Raphael P.M. Lotilla noted. He further pleaded “let us assist them in safely navigating their way during these busy travel periods by implementing initiatives that will enhance their overall travel experience and promote road safety campaigns.”
With congested roads and streets certainly adding up to the adversity of motorists, the energy chief said it will greatly help if the oil companies would advance partnerships with car companies for initiatives such as on road safety campaigns, providing advisories on alternate routes, apprising motorists of emergency contacts as well as liaising with relevant local authorities for traffic management. Apart from satisfying consumers’ fuel needs, the energy chief similarly reminded consumers “to take precautions with their electricity devices when leaving their homes unattended for an extended period to ensure safety and energy efficiency.“
Lotilla prompted homeowners “to inspect their electrical outlets, cords, and extension cords thoroughly for any damage, and to repair damaged components to prevent the risks of electrical hazards, such as short circuits or electrical fires.”
Source: mb.com.ph
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