By Lenie
Lectura - March 12, 2019
Oil firms announced a price increase
in gasoline effective Tuesday morning.
Gasoline prices will go up by P0.90
per liter at 6 a.m. of March 12. The price of diesel and kerosene remains
unchanged.
Pilipinas Shell, Petro Gazz, Seaoil
Philippines, Total Philippines, PTT Philippines and Eastern Petroleum announced
their price adjustment on Monday afternoon.
Last week gasoline prices went up by
P0.10 per liter, while diesel price was reduced by P0.10 per liter.
Energy Secretary Alfonso G. Cusi,
meanwhile, said a task force will be formed to thoroughly review a proposal
from the Department of Agriculture (DA) to increase the biodiesel blend from 2
percent coco methyl ester to 5 percent CME blend in diesel.
Cusi said he is not in favor of
this.
“If we do that, the price of fuel
will go up. That’s difficult. How come the copra price is going down but the
price of CME remains high. When the price of copra goes down, CME prices should
also go down? I call the attention of biofuels board. That should be studied
with the DA. We will create a task force. The study should be holistic,” said
Cusi.
Agriculture Secretary Emmanuel Piñol
earlier announced that he would lobby for the increase of biofuel content in
diesel from B2 to B5 to absorb oversupply in the copra industry.
Rafael Diaz, petroleum and biofuels
consultant, said on Monday that the possible increase in in cocobiodiesel blend
in diesel to 5 percent will not drive pump prices very high.
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