Danessa Rivera (The Philippine Star)
- June 16, 2020 - 12:00am
MANILA, Philippines — Motorists will
have to pay more for gasoline and diesel today.
In separate advisories, Flying V,
Petro Gazz, Petron Corp., Phoenix Petroleum Philippines Inc., Pilipinas Shell
Petroleum Corp., PTT Philippines, and Seaoil Philippines said their price
adjustments take effect at 6 am today – P1.25 per liter for gasoline, P1.10 for
diesel, and P0.75 for kerosene. Unioil said its price adjustments take effect
at 6:01 am and Cleanfuel’s at 4:01 pm.
The price hikes are in step with the
trend in the Mean of Platts Singapore (MOPS), the benchmark for local fuel
products. MOPS is the daily average of all trading transactions of diesel and
gasoline as assessed and summarized by Standard and Poor’s Platts, a
Singapore-based market wire service.
This is the second week gasoline
prices have increased, and the sixth for diesel and kerosene.
Meanwhile, some oil companies will
start including in their prices this week the additional import duty on
petroleum products.
The imposition of additional 10
percent duty on crude oil and refined petroleum products is based on Executive
Order (EO) No. 113 signed by President Duterte to raise funds for its response
efforts to fight the coronavirus disease 2019 (COVID-19).
“[The] additional cost on EO 113
will be implemented on a per station basis starting June 17 as acknowledged by
DOE,” Pilipinas Shell said in its advisory.
The Department of Energy (DOE)
earlier said the additional tariff would only apply to new stocks of oil
imports.
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