Diesel prices should be between P20-22 — group

MANILA — Militant transport group Piston yesterday said that with the continuous lowering of oil prices in the world market, the current price per liter of diesel should have been between P20 and P22.

Piston national president George San Mateo noted that he arrived at prices based on the decrease in crude oil prices by 50 to 55 percent in recent months.

"Dapat nasa P20 to P22 na lang ang diesel kasi 50 to 50 percent na ang binaba sa world market since June 2014," San Mateo said.

That time, the crude price was $104 per barrel while the local rate of diesel was at P44 per liter, San Mateo added.

However, he said that due to the meager rollback of oil companies in the country, particularly the big oil players, the present local diesel price has been pegged at P26 per liter.

Instead of asking for a fare rate increase, San Mateo said oil companies should implement a continuous rollback in the fuel prices.

Meanwhile, Piston members will stage a picket rally at the offices of the oil firms on Wednesday, February 11, to protest the impending P2 oil price hike in gasoline and diesel.

"Nababahala kami na simula na ito ng sunod-sunod na pagtaas sa oil prices. Lalong titindi oil overpricing. Noong pababa (ang presyo ng krudo) ay nag-o-overprice padin ang mga big oil companies. Kulang pa nga ang oil price rollback dahil tinitipid nila ang rollback para mapanatili super tubo nila," San Mateo said.