Despite gas prices rising for the 9th straight week (and motorists have resigned to their fates), the DOE is ensuring nobody takes advantage of the situation. The agency is asking motorists to report gas stations that are overcharging or have unreasonably prices for their fuel products.
DOE Undersecretary Gerardo Erguiza Jr. said in a recent press conference, that they are doing everything they can to prevent gasoline stations and other petroleum retail outlets from using the situation to their advantage. Erguiza also said that because the pandemic situation is slowly improving, the uptick in economic activities requires the use of more energy. He cited that the transportation sector was hit the most with the significant increases in fuel prices.
According to Oil Industry Management Bureau Director Rino Abad, the nationwide price range for gasoline should be between Php 60-Php 83 per liter. Diesel should hover around Php 52-Php 65 per liter, and Kerosene at Php 61-Php 68 per liter.
The DOE did mention that despite our country still having ample oil supply, we should be mindful of our consumption as much as possible. This is to ensure that we maintain our energy independence and security.
Other measures are also being undertaken by the DOE to try to keep fuel prices down. The agency has proposed the suspension of the excise tax on fuel and other amendments to the Oil Deregulation Law.
