The oil distributors raised the price of diesel by P0.55 per liter, gasoline by P0.20 and kerosene by P0.40 starting at 12:01 am Tuesday to reflect the movement of world oil prices.
“Effective 12:01 a.m. Jan 29, 2019, Chevron Philippines [Caltex] will increase the wholesale posted price of Platinum and Silver by P0.20 per liter, diesel by P0.55 per liter and kerosene by P0.40 per liter [all VAT inclusive],” the company said in a statement.
The other oil firms that raised prices were Phoenix Petroleum Philippines, PTT Philippines, Pilipinas Shell Petroleum Corp., Seaoil Philippines, and Petro Gazz, while the others were expected to follow suit.
This would be the fourth consecutive weekly oil price increase triggered by the unrest in Venezuela.
Meanwhile, Senator JV Ejercito on Monday urged the government to collect taxes efficiently and correctly to raise more funds, instead of implementing the second wave of fuel excise tax increase that took effect this month.
He even called on the Bureau of Internal Revenue and the Bureau of Customs to run after big-time tax evaders.
He said the right collection of taxes and running after tax cheaters should be the strategy.
“So let’s suspend the implementation of the fuel excise tax increase temporarily and embark on an effective, efficient and correct collection of taxes,” Ejercito said.
“At the same time, launch a serious and sustained campaign against tax evaders.”
The total adjustments in pump prices this year has stood at P1.20 per liter of gasoline, P1.05 per liter of kerosene and P2.10 per liter of diesel.
Last week, Unioil Philippines forecast that diesel prices would likely go up by P0.50 to P0.60 per liter and gasoline by P0.20 per liter.
On Jan. 15, the oil firms raised pump prices by P2.30 per liter of diesel, P1.40 per liter of gasoline and P2 per liter of kerosene.
On Jan. 8, the oil companies also raised prices by P0.80 per liter of gasoline, P0.70 per liter of diesel and P0.40 per liter of kerosene. With Macon Ramos-Araneta