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DOE urges consumers to report unreasonable oil prices

MANILA - The Department of Energy (DOE) has urged consumers to report to the agency oil retail outlets with unreasonable petroleum prices amid the non-stop oil price hikes for the past nine weeks. In a press conference Wednesday, DOE Undersecretary Gerardo Erguiza Jr. said the agency will not allow retail outlets to take advantage of the current situation in the oil market. Oil Industry Management Bureau director Rino Abad said as of March 1, nationwide prices of gasoline range from PHP60 to PHP83 per liter, PHP52 to PHP65 per liter for diesel, and PHP61 to PHP68 per liter for kerosene. Erguiza said retail price of diesel increased from PHP37.59 per liter in March 2019 to PHP54.20 in end-February 2022, or an increment of PHP16.61 per liter in nearly three years. Gasoline prices also went up from PHP43.39 per liter to PHP69.28 per liter in the same period. In March 2019, the price of Dubai crude was at USD72.83 per barrel. It rose to USD96.89 per barrel as of February 28. "As the p ....

United Arab Emirates , South Korea , Rino Abad , Gerardo Erguiza Jr , Oil Industry Management Bureau , Department Of Energy , Gerardo Erguiza , Industry Management Bureau , Manila The Department Of Energy Doe Has Urged Consumers To Report Agency Oil Retail Outlets With Unreasonable Petroleum Prices Amid Non Stop Price Hikes For Past Nine Weeks Ina Press Conference Wednesday , Oe Undersecretary Gerardo Erguiza Jr Said The Agency Will Not Allow Retail Outlets To Take Advantage Of Current Situation In Oil Market Industry Management Bureau Director Rino Abad As March 1 , Ationwide Prices Of Gasoline Range From Php60 To Php83 Per Liter , Hp52 To Php65 Per Liter For Diesel , Nd Php61 To Php68 Per Liter For Kerosene Erguiza Said Retail Price Of Diesel Increased From Php37 59 In March 2019 Php54 20 End February 2022 , R An Increment Of Php16 61 Per Liter In Nearly Three Years Gasoline Prices Also Went Up From Php43 39 To Php69 28 The Same Period March 2019 , He Price Of Dubai Crude Was At Usd72 83 Per Barrel It Rose To Usd96 89 As February 28 Quot The Pandemic Is Slowly Improving , Conomic Activities Surge Resulting To The Utilization Of More Energy Transportation Was Most Hit And Demand For Oil Products Has Significantly Increased , Uot Erguiza Said He Added The Crisis Between Russia And Ukraine Aggregated Already Tight Supply Of Oil In World Market Philippines Does Not Directly Get Crude From But Asian Countries Such As China , South Korea , Nd Japan Which Are Sourcing From Russia Based On Doe Projection , Ocal Oil Prices Are Expected To Reach Php68 70 Per Liter For Diesel And Php78 33 Gasoline Once Asian Price Benchmark Dubai Crude Will Usd120 Barrel Pna ,

DOE urges consumers to report unreasonable oil prices

MANILA - The Department of Energy (DOE) has urged consumers to report to the agency oil retail outlets with unreasonable petroleum prices amid the non-stop oil price hikes for the past nine weeks. In a press conference Wednesday, DOE Undersecretary Gerardo Erguiza Jr. said the agency will not allow retail outlets to take advantage of the current situation in the oil market. Oil Industry Management Bureau director Rino Abad said as of March 1, nationwide prices of gasoline range from PHP60 to PHP83 per liter, PHP52 to PHP65 per liter for diesel, and PHP61 to PHP68 per liter for kerosene. Erguiza said retail price of diesel increased from PHP37.59 per liter in March 2019 to PHP54.20 in end-February 2022, or an increment of PHP16.61 per liter in nearly three years. Gasoline prices also went up from PHP43.39 per liter to PHP69.28 per liter in the same period. In March 2019, the price of Dubai crude was at USD72.83 per barrel. It rose to USD96.89 per barrel as of February 28. "As the p ....

United Arab Emirates , South Korea , Rino Abad , Gerardo Erguiza Jr , Oil Industry Management Bureau , Department Of Energy , Gerardo Erguiza , Industry Management Bureau , Manila The Department Of Energy Doe Has Urged Consumers To Report Agency Oil Retail Outlets With Unreasonable Petroleum Prices Amid Non Stop Price Hikes For Past Nine Weeks Ina Press Conference Wednesday , Oe Undersecretary Gerardo Erguiza Jr Said The Agency Will Not Allow Retail Outlets To Take Advantage Of Current Situation In Oil Market Industry Management Bureau Director Rino Abad As March 1 , Ationwide Prices Of Gasoline Range From Php60 To Php83 Per Liter , Hp52 To Php65 Per Liter For Diesel , Nd Php61 To Php68 Per Liter For Kerosene Erguiza Said Retail Price Of Diesel Increased From Php37 59 In March 2019 Php54 20 End February 2022 , R An Increment Of Php16 61 Per Liter In Nearly Three Years Gasoline Prices Also Went Up From Php43 39 To Php69 28 The Same Period March 2019 , He Price Of Dubai Crude Was At Usd72 83 Per Barrel It Rose To Usd96 89 As February 28 Quot The Pandemic Is Slowly Improving , Conomic Activities Surge Resulting To The Utilization Of More Energy Transportation Was Most Hit And Demand For Oil Products Has Significantly Increased , Uot Erguiza Said He Added The Crisis Between Russia And Ukraine Aggregated Already Tight Supply Of Oil In World Market Philippines Does Not Directly Get Crude From But Asian Countries Such As China , South Korea , Nd Japan Which Are Sourcing From Russia Based On Doe Projection , Ocal Oil Prices Are Expected To Reach Php68 70 Per Liter For Diesel And Php78 33 Gasoline Once Asian Price Benchmark Dubai Crude Will Usd120 Barrel Pna ,