OIL COMPANIES will be raising the prices of gasoline, diesel, and kerosene this week at rates generally milder than what they imposed at the start of the year.
Gasoline prices will rise by P0.10 per liter, diesel prices by P0.40 per liter and kerosene by P0.15 per liter after petroleum product retailers implemented last week some of the biggest price hikes seen by consumers in years.
Most of the companies that sent their advisories as of early afternoon said they would impose the price hike at 6:00 a.m. today, Jan. 22.
Last week, the prices of gasoline, diesel and kerosene rose by P1.40, P2.30 and P2.00 per liter, respectively.
Separately, the Department of Energy said it would conduct a second round of validation activities in the coming days and would release a full report once the data have been consolidated.
The department conducted its first round of validation activities across various fuel retail outlets in the past two weeks to ensure the proper implementation of the second tranche of excise tax on petroleum products under the Tax Reform for Acceleration and Inclusion (TRAIN) Law.
It said, as of Jan. 17, up to 1,639 or 19% of the 8,630 retail outlets nationwide had already been implementing the second tranche of fuel excise tax. — Victor V. Saulon

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