ANOTHER round of decrease in fuel prices takes effect Tuesday, Nov. 13, after months of continuous increases.
For the past three weeks, gas stations had decreased the price of gasoline by P1 per liter.
Jay Julia, public and media relations executive of PTT Philippines, said this is not the biggest decrease in oil price.
The PTT decreased its gasoline price by P2.30/liter and P2/liter for its crude or diesel prices.
Phoenex Philippines decreased its prices by P2.30/liter and P2/liter for crude and diesel.
Shell, Caltex, Flying V implemented the P2.30/liter decrease in oil price and P1.85/liter of kerosene.
One of the factors in the last decrease is the the price of crude.
The reason for the decrease has been the lowering of oil prices in Dubai, down to US$1.7 per barrel.
Julie Flores, president of the Philippine Provincial Bus and Minibus Operators Transport Cooperative, welcome the rollback.
She said the bus operators are happy with the oil price drop and see this as an early Christmas gift. She said they hope that prices drop to as low as P30/liter.
They said they will not yet touch their petition for a P10 minimum decrease at the LTFRB.
If the price of petroleum reaches P35 per liter, they would no longer push for an increase.
An official of the Basak, Lapu-Lapu City Jeepney Operators and Drivers’ Association (Balacjoda) said the rollback has no effect on them.
Balacjoda consultant Metudio Belarmino said they will still push for the provisional fare increase of P2.50 at the Land Transportation and Regulatory Board.
The price will still go up at some point and sometimes really big, said Belarmino in a talk with Superbalita Cebu.
He said that even if the price of gasoline has gone down, the prices of some commodities remain high.
It was in 2008 when the LTFRB last allowed an increase in jeepney fare.
Greg Perez, president of Piston Cebu, said a P2 decrease is so small considering the number of increases this year.
“Klaro kaayo nga maniobra na sa oil companies tungod sa petition nga giduso sa transport group alang sa usbaw sa pletihan. Himuon ni nga balido nga rason sa LTFRB nga dili i-grant petition alang sa umento sa pletihan (It’s very clear it’s a maneuver by a company,” said Perez. (from Philip A. Cerojano & Sheila C. Gravinez of SuperBalita Cebu)