Aside from the power rate hike this month of June, consumers should also brace themselves for another increase in oil prices.
In separate advisories, oil companies Shell Philippines and Caltex announced that they would respectively implement ₱1.20 per liter increase in gasoline, ₱1.40 in diesel, and ₱1.30 in kerosene.
The price adjustment will be effective starting at 6 AM on Tuesday, June 13.
Meanwhile, Cleanfuel said that there will be a ₱1.20 per liter hike and ₱1.40 in diesel, effective 4 PM on Tuesday. The oil firm will not enforce adjustments in kerosene.
Interviewed during Laging Handa's public briefing, Department of Energy’s (DOE) Oil and Industry Management Assistant Director Rodela Romero said the oil price hike was due to the production cut set by Saudi for Organisation of the Petroleum Exporting Countries (OPEC) member countries.
"Sinabi ng Saudi Arabia na by July 1, may 1 million barrels per day na production cut na i-implement sila. Doon lang nag-react ang merkado last Monday, so tumaas ang lahat ng produkto ng petrolyo," she explained.
"Mataas ang average cost last week, so nahatak pataas 'yung produktong petrolyo kaya mararanasan natin ang increase, tomorrow morning," Romero added.
The DOE official assured that the energy department is conducting regular inspections of oil industry facilities.
"Chineck po namin 'yung compliance nila on standards on quantity," she said.
