P2.30 price hike for diesel

The Philippine Star - - FRONT PAGE - By DANESSA RIVERA

An­other ma­jor fuel price hike takes ef­fect to­day – the sec­ond in two weeks this month – in step with ris­ing crude costs in the world mar­ket.

The sec­ond tranche of the fuel ex­cise tax un­der the Tax Re­form for Ac­cel­er­a­tion and In­clu­sion (TRAIN) law has noth­ing to do yet with the lat­est in­crease, in­dus­try play­ers em­pha­sized.

Oil com­pa­nies an­nounced up­ward ad­just­ments in the pump prices of diesel at P2.30 per liter; gaso­line, P1.40, and kerosene, P2. It was the high­est mark-up for diesel in re­cent his­tory. Turn to Page 4

In sep­a­rate text ad­vi­sories yes­ter­day, Cal­tex Philip­pines From Page 1 and East­ern Petroleum said their price in­creases were to take ef­fect af­ter mid­night last night.

“Price ad­just­ment only fac­tors the in­crease in world oil prices and not the sec­ond tranche of the TRAIN law,” East­ern Petroleum said.

Jetti Petroleum, Petro Gazz, Pilip­inas Shell Petroleum Corp., PTT Philip­pines Corp. and To­tal Philip­pines Corp. said their re­spec­tive price ad­just­ments took ef­fect at 6 a.m.

“This is not yet the ef­fect of the fuel ex­cise tax, but merely a re­flec­tion of the move­ment of in­ter­na­tional crude prices,” Petro Gazz said in its ad­vi­sory.

“These re­flect the changes in the prices of petroleum prod­ucts in the world mar­ket and does not yet in­clude the ad­di­tional taxes un­der the TRAIN law,” Phoenix said in its ad­vi­sory.

Mean­while, Fly­ing V, Phoenix Petroleum Philip­pines Inc., Petron Corp., Seaoil Philip­pines Inc. and UniOil Petroleum Philip­pines Inc. have yet to an­nounce their price changes.

Depart­ment of En­ergy-Oil In­dus­try Man­age­ment Bureau as­sis­tant di­rec­tor Rodela Romero said re­duc­tion in sup­ply ap­proved by the Or­ga­ni­za­tion of Petroleum Ex­port­ing Coun­tries (OPEC) ex­plained the surge in lo­cal pump prices.

“The rea­son for in­crease is the im­ple­men­ta­tion of sup­ply cut by OPEC which started this Jan­uary to June by 1.2 mil­lion bar­rels per day,” she said in text mes­sage.

An­other fac­tor that pushed global prices higher is the re­sump­tion of the US sanc­tion against Iran, Romero said.

So far, only 469 of the 8,600 gas sta­tions na­tion­wide have fac­tored in the sec­ond tranche of the TRAIN ex­cise tax in price ad­just­ments.

Of the to­tal, 371 are from Petron, 29 from Fly­ing V, 68 from Shell and one from Cal­tex, Romero said.

Un­der the sec­ond tranche of TRAIN im­ple­men­ta­tion, an ad­di­tional ex­cise tax of P2 per liter will be im­posed on diesel and gaso­line, and P1 per kilo­gram on house­hold LPG.

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