PISTON slams big-time oil price hike

Transport group PISTON condemned the latest fuel price hike that took effect Tuesday as it staged separate protest actions in Pasay City and Mandaue City in Cebu.

The group lamented that three straight weeks of price increases have been increasingly burdensome for its members. The latest hike alone was at over P1 per liter for gasoline, and more than P2 per liter for diesel and kerosene.

"Nakababahala ang kabuuang epekto ng pagtaas ng presyo ng langis sa bansa (The overall effect of the increase in oil prices in the country is alarming)," PISTON said in a statement Tuesday.

According to data by GMA Integrated News Research, the three consecutive upward adjustments this year have resulted in a cumulative P3.45 per liter increase for gasoline, P4.30 per liter for kerosene, and P5 per liter for diesel.

The January 21 hike is the highest since October 15, 2024, GMA Integrated News Research added.

"Lalo pa itong pinabibigat ng mga mapaniil na buwis sa langis gaya ng VAT (value-added tax) at excise tax na mas malalang umaapekto sa mga mahihirap na Pilipino. Tinatayang umabot na sa halos P6,400 ang kabuuang nawalang kita ng mga tsuper mula nang magsimula ang taon dahil sa mga naturang buwis," PISTON added.

(The burden from the price hike is worsened by taxes on fuel such as VAT and excise tax. These have a major effect on poor Filipinos. Based on our projections, drivers have lost almost P6,400 in income since the start of the year due to these taxes.)

According to PISTON national president Mody Floranda, PUV drivers lose P9,000 of their monthly income as they consume about 30 liters of oil daily, costing P450.

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected major hikes this week, citing the imposition of a new round of sanctions on Russian oil by both the United States and the United Kingdom. — Mariel Celine Serquiña/ VDV, GMA Integrated News