Fuel price hikes seen before 2014 ends this week

After a series of fuel price rollbacks for more than two months, oil prices are expected to increase before the end of 2014 this week, according to GMA News' "24 Oras" report that aired on Monday.

 

Based on the estimates of oil industry sources, prices of gasoline might increase up to 50 centavos while diesel prices might go up by not more than 10 centavos per liter.

 

The Department of Energy hopes that oil companies will not implement an increase in oil prices.

 

"Hopefully, hindi na nila pagalawin para huwag naman masira ang mood natin. Pero ang gasolina mukhang meron, pero konti," Energy Undersecretary Zenaida Monsada said.

 

The price hike is due to the unusual volume of oil purchased by Indonesia and the turmoil in Libya.

 

Prices of gasoline and diesel were slashed by almost P15 per liter. Average price of diesel is P29 to P30 while unleaded gasoline is selling for an average of P38 to P39.

 

Liga ng Transportasyon at Operator sa Pilipinas president Lando Marquez have expressed concerns over the oil price hike since fares on the Light Rail Transit Lines 1 and 2 and Metro Rail Transit Line 3 are scheduled to increase on Jan. 4. 
 

"After this New year, humanda na tayo na nakaabang, una, MRT at LRT, pangalawa, kuryente, pangatlo, tubig --- lahat yan parusa na yung darating ngayon sa atin," Marquez said.

 

Mannila Water and Maynilad are expected to post a price hike by January. 

 

ACTO national president Efren de Luna warned commuters of a possible fare hike. The Land Transportation Franchising and Regulatory Board approved on Dec. 11 a rollback in minimum jeepney fares to P7.50 from P8.50. 

 

"Pag umabot na naman 'yan ng mga P33 or P35, kailangan talaga ibalik agad ang binigay namin na provisional na pamasahe," he said.

 

Meanwhile, prices of products are not expected to increase since there are enough supply before the New Year. There is no problem seen with the supply of chicken and pork as well.

 

Philippine Amalgamated Supermarkets Association president Steven Cua advised the public to purchase products with discounts.

 

"I'm advising the public to go out and buy mga may bonus or tie-ups or may discounts na items kasi naghahabol ang tao ngayon... mga manufacturers, suppliers ng sales at the end of the year," he said. —Kathryn Mae P. Tubadeza/NB, GMA News