House probe sought on premature pump price hikes

MANILA, Philippines — An independent lawmaker wants the House of Representatives to look into persistent reports that some gas stations have taken advantage of motorists by hiking oil prices way before the government’s scheduled implementation.

Through House Resolution 1217, Navotas Rep. Toby Tiangco is urging the committee on energy to investigate the reported premature increases and calling on the Department of Energy to inspect gas stations and impose appropriate penalties on distributors found violating fuel price regulations.

“Every additional peso to prices of our gasoline matters to our drivers and delivery riders, as this reduces their take-home daily earnings for their families. Gas is never a luxury for them – this is their investment or capital. Therefore, this sacrifices the food they have on their table,” he said.

Under Republic Act 8479 (Downstream Oil Industry Deregulation Act), the DOE is mandated to monitor the downstream oil industry and help ensure transparency, fair competition, and consumer protection.

Tiangco also cited Batas Pambansa 33, as amended by Presidential Decree 1865, which penalizes hoarding, profiteering, overpricing and manipulation involving petroleum products.

Prices up anew

Meanwhile, another sharp increase in fuel prices is set to take effect today, with diesel seeing the biggest adjustment of more than P7 per liter.

In separate advisories yesterday, Shell and Seaoil announced upward adjustments of P6.80 per liter for gasoline, P7.30 per liter for diesel and P4.20 per liter for kerosene.

Unioil and Petro Gazz will implement the same price increases, except for kerosene, which they do not offer.

At Jetti stations, gasoline and diesel prices will both rise by P5 per liter today, with another increase of P1.80 per liter for gasoline and P2.30 per liter for diesel set to follow tomorrow.

Following the adjustments, gasoline prices in Metro Manila will range from P76.40 to P106.50 per liter, while the cost of diesel is expected to reach as high as P106.60 per liter.

Kerosene prices will likewise increase, ranging from P103.20 to P138.30 per liter.

“Supply disruptions linked to the Iran and Ukraine wars have tightened prompt oil supply availability and have caused prices to rise this week,” Jetti Petroleum president Leo Bellas said.

Bellas said renewed geopolitical tensions raised the risk of delayed crude shipments to Asian refiners, further tightening supplies of diesel and other middle distillates.

“Gasoline prices surged as strong demand over the peak summer season, coupled with supply constraints, has severely impacted Asian gasoline balances,” he added. — Brix Lelis

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