Cheyenne Suarez

Motorists queue for fuel at a gas station in Pasig City on October 10, 2022, a day before a new round of oil price hike takes effect. Diesel prices is forecast to increase by P6 to P6.85 per liter, gasoline prices at P1.20 to P1.40 per liter, and kerosene prices by P3.50 to P3.70 per liter. Mark Demayo, ABS-CBN News

Article (news)

Diesel slides to below P100 per liter in some gas stations after big time rollback

Alvin Elchico

ABS-CBN News

<div> </div>MANILA — Several gas stations are now selling diesel at less than P100 per liter after the huge price rollback on Tuesday.The lowest price ABS-CBN News was able to monitor was at P75.06/liter sold by the independent brand Powerfill. But the cheap diesel sold out fast, lasting only five hours. Other stations sell diesel at P92.16/liter to P95/liter.The cheapest gasoline based on DOE&#x27;s monitoring is at P74.50 still along Commonwealth Avenue, though other players are still selling at the P80 level.Energy Secretary Sharon Garin admitted that there are oil players complaining about the government&#x27;s interference in the pricing of fuel. But Garin said the price-setting mechanism of DOE under the national state of energy emergency is reasonable and not arbitrary.In an interview with DZMM, Garin said while some are raising questions, they still follow DOE&#x27;s lead.&quot;Umaalma naman kasi it&#x27;s not like one size fits all...Pero lahat naman sumusunod eh,&quot; said Garin.Meanwhile, a number of LPG players have also cut cooking gas prices by P3.36 per kilo due to the suspension of the excise tax, including Petron Gasul, Fiesta, Solane and Phoenix LPG.Regasco President Arnel Ty said more rollbacks will come if the peace talks in Islamabad bear fruit and result in a lasting peace. But when asked if prices of LPG will go back to less than P1,000/11kg tank, Ty said this will probably happen next year when everything goes back to normal.Currently, LPG prices range from over P1,300 to P1,500 due to the war in the Middle East.<div>ANOTHER POWER RATE HIKE IN MAY?</div>Meanwhile, Garin sees another spike in electricity rate for May, still as a result of higher fuel prices due to the conflict in the Middle East.&quot;The whole industry working together para ma-abate itong pag-increase. So hindi siya 9 pesos. Ang calculation namin...hindi nga aabot 2 pesos eh, mga 1 peso &#x27;yung increase. Kasi mahal na nga &#x27;yung transport, dadagdagan pa ng sobrang laki ng increase ng electricity, and we&#x27;re trying to avoid that. At least minimal na lang siya,&quot; Garin said in an interview on DZMM.Meralco increased its overall rate by P0.53/kWh this month.

Several gas stations are now selling diesel at less than P100 per liter after the huge price rollback on Tuesday.

Several gas stations are now selling diesel at less than P100 per liter after the huge price rollback on Tuesday.