The oil distributors raised the price of diesel by P0.55 per liter, kerosene by P0.45 per liter and gasoline by P0.30 per liter effective today, Tuesday, to reflect the movement of oil prices in the world market.
PTT Philippines raised gasoline prices by P0.30 per liter, diesel by P0.55 and kerosene by P0.45.
PTT aside, Pilipinas Shell Petroleum Philippines, Seaoil Philippines, and Petro Gazz also increased prices.
Shell and the other distributors also filed a petition for a temporary restraining order against the oil unbundling circular of the Department of Energy.
They filed the petition against the Revised Guidelines for the Monitoring of Prices in the Sale of Petroleum Products by the Downstream Oil Industry signed by Secretary Alfonso Cusi on May 28, saying the TRO is contrary to the spirit of the Oil Deregulation Law of 1998.
“A deregulated downstream oil industry paved the way for a truly competitive market characterized by many players, varying product offerings, competitive prices, adequate and continuous supply of environmentally-clean and high-quality petroleum products,” Shell said.
“Since deregulation, consumers have enjoyed the freedom to choose their preferred fuels in locations most convenient for them, and at prices that are acceptable to them, availing of discounts, promotions, and other value-added services that their chosen service station offers.”
Shell said that while the Energy department’s mandate is to monitor oil price movements, “We believe that the Circular leads the industry back to the path of regulation.”.
The latest oil price hike is the second consecutive weekly oil price increase after the oil firms raised the price of gasoline by P0.35 per liter, kerosene by P0.25 per liter and diesel by P0.20 per liter on June 18.
World oil prices are going up due to geopolitical tensions. US President Donald Trump approved military strikes in response to Iran for allegedly shooting down an unmanned US surveillance drone on Thursday, but he also called off the strike.
World prices have been going up due to rising tensions between Tehran and Washington following the downing of a US surveillance drone over the Strait of Hormuz.
THE oil distributors raised the price of diesel by P0.55 per liter, kerosene by P0.45 per liter and gasoline by P0.30 per liter effective today, Tuesday, to reflect the movement of oil prices in the world market.
PTT Philippines raised gasoline prices by P0.30 per liter, diesel by P0.55 and kerosene by P0.45.
PTT aside, Pilipinas Shell Petroleum Philippines, Seaoil Philippines and Petro Gazz also increased prices.
Shell and the other distributors also filed a petition for a temporary restraining order against the oil unbundling circular of the Department of Energy.
They filed the petition against the Revised Guidelines for the Monitoring of Prices in the Sale of Petroleum Products by the Downstream Oil Industry signed by Secretary Alfonso Cusi on May 28, saying the TRO is contrary to the spirit of the Oil Deregulation Law of 1998.
“A deregulated downstream oil industry paved the way for a truly competitive market characterized by many players, varying product offerings, competitive prices, adequate and continuous supply of environmentally-clean and high-quality petroleum products,” Shell said.
“Since deregulation, consumers have enjoyed the freedom to choose their preferred fuels in locations most convenient for them, and at prices that are acceptable to them, availing of discounts, promotions, and other value-added services that their chosen service station offers.”
Shell said that while the Energy department’s mandate is to monitor oil price movements, “We believe that the Circular leads the industry back to the path of regulation.”
The latest oil price hike is the second consecutive weekly oil price increase after the oil firms raised the price of gasoline by P0.35 per liter, kerosene by P0.25 per liter and diesel by P0.20 per liter on June 18.
World oil prices are going up due to geopolitical tensions. US President Donald Trump approved military strikes in response to Iran for allegedly shooting down an unmanned US surveillance drone on Thursday, but he also called off the strike.
World prices have been going up due to rising tensions between Tehran and Washington following the downing of a US surveillance drone over the Strait of Hormuz.